Riyadh, May 11 (QNA) - The Saudi Arabian Oil Company (Aramco) announced on Sunday its financial results for the first quarter of 2025, reporting a net profit of SR 97.54 billion, compared to SR 102.3 billion in Q1 2024.

Operating cash flow for the quarter stood at SR 118.9 billion, down from SR 126 billion in the same period last year.

Free cash flow reached SR 71.8 billion in Q1 2025, compared to SR 85.3 billion in the first quarter of 2024.

Aramco’s debt ratio was recorded at 5.3% as of March 31, 2025, up from 4.5% at the end of 2024.

The company emphasized that recent oil and gas discoveries announced by the Saudi Ministry of Energy underscore its sustained strength in exploration. Aramco also finalized an agreement to acquire a 25% equity stake in Philippine-based Unioil Petroleum, supporting its strategic expansion across the downstream value chain, including refining, chemicals, and marketing.

In addition, Aramco completed the acquisition of a 50% stake in Blue Hydrogen Industrial Gases Company, aimed at advancing its ambitions in low-carbon energy. The company also launched a pilot facility for direct air capture (DAC) of carbon dioxide, marking a key step toward scaling innovative emissions-reduction technologies.

In April, Aramco announced 14 new oil and gas discoveries across the Eastern Province and the Empty Quarter. These include six oil fields, two Arab Light crude oil reservoirs, two gas fields, and four natural gas reservoirs. (QNA)