Saudi Arabian Oil Co. or Saudi Aramco (2222) Monday announced a decline in first quarter earnings, compared to the prior year. The results reflects reduced revenue and other income related to sales as well as higher operating costs.
The quarterly earnings were $26.011 billion, down from $27.272 billion a year ago. The earnings were partially offset by higher income taxes and zakat driven by higher taxable income compared to the previous quarter.
Revenue and other income related to sales were $114.563 billion, compared to $116.759 billion in the same quarter last year. The Saudi State owned company noted that the revenue was partially offset by lower volumes sold of refined and chemical products compared to the previous quarter.
The Return on Average Capital Employed or ROACE was 19.9 percent, compared to 21.7 percent in the prior year. Average realised crude oil price was $76.3/bbl, down from $83.0/bbl.
The company increased its base dividends paid by 4.2 percent to $21.142 billion, from $20.292 billion last year. The performance-linked dividend will be $0.219 billion, down from $10.775 billion a year ago and will be paid in the second quarter.
Capital expenditure for the quarter increased to $12.549 billion from $10.832 billion in the prior year second quarter.
Aramco has revealed definitive agreements to acquire 25 percent equity stake in Unioil Petroleum Philippines and said it completed acquisition of 50 percent equity interest in Blue Hydrogen Industrial Gases Co.
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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.