Future-proofing Aramco
Record profits allow for investment drive not just in the upstream but also the downstream and in lower-carbon
State oil heavyweight Saudi Aramco’s vast $48.8bn second-quarter profit—the biggest of any listed company worldwide—came as little surprise, given the oil market’s sustained bull run. The firm’s commitment to ploughing its windfall into an upstream expansion programme, designed to ensure it is not only a key player while the world has—in its view—continued long-term need for its core product, but also the ‘last man standing’ as and when oil demand finally goes into retreat, is also familiar ground. But it is also showing awareness of the gathering decarbonisation storm clouds. And it is likewise investing heavily to armour its business. Financial metrics were predictably glittering across th

Also in this section
11 June 2025
Petroleum Economist analysis shows OPEC bringing back some barrels in May, but fewer than expected, while OPEC+ continues to see output fall
10 June 2025
The bloc may find it very difficult to replicate Japan’s approach due to fundamental differences in policy and the markets
10 June 2025
Scapegoating foreign buyers will not solve country’s gas shortages
10 June 2025
US gasoline consumption is at its highest level since before COVID, but while stocks remain healthy, the hurricane season threatens