Aramco’s profits represent 53.6% of total profits of 6 largest global oil companies in 2024

Saudi Aramco’s profits represented 53.6% of the total profits of the 6 largest global oil companies for the fiscal year 2024, as the total profits of these companies amounted to $198.35 billion, with the Saudi company’s share amounting to $106.25 billion.

In contrast, Exxon Mobil recorded profits of $33.68 billion, while Chevron’s profits amounted to $17.66 billion, and Shell recorded profits of $16.09 billion. TotalEnergies also achieved profits of $15.76 billion, while BP’s profits amounted to $8.91 billion.

Amin H. Nasser, Saudi Aramco’s President and CEO, said: “The strong net income and increased core dividends underscore Aramco’s exceptional resilience and ability to leverage its unique scale, low cost of production, and high levels of reliability to deliver industry-leading performance to our shareholders and customers.

He explained that global oil demand reached new highs in 2024, indicating that he expects further growth in 2025.

Nasser continued: “As reliable and sustainable energy is key to the growth of the global economy, we continue to make progress on projects that will maintain our maximum sustainable crude oil production capacity, expand our gas capabilities, and further integrate our upstream and downstream businesses to create added value and help reduce greenhouse gas emissions.”

Nasser added: “We are also adopting and implementing AI technologies and solutions extensively across our business, enabling greater efficiency and value creation across all levels of the company’s operations. Capital discipline is at the core of Saudi Aramco’s strategy, enabling us to grow and capture value through traditional and new energy solutions.”