Aramco annual report 2024
Business model
Business Model
Capturing value across the hydrocarbon chain
Operations
Inputs
250.0
Total hydrocarbon reserves1
(billion boe)
12.0
Maximum Sustainable Capacity
(mmbpd)
Outcomes and impacts
Products produced
- Cruide oil
- Gas
- NGL
- Condensate
- Refined products
- Chemicals
- Electricity
- Blue ammonia
- Nonmetalics
9.7
Upstream carbon intensity4
(kg of CO2e/boe)
99.7
Reliability7
(%)
56.1
Scope 1 emissions4
(mmtCO2e)
12.4
Scope 2 emissions4
(mmtCO2e)
0.7
Power supplied to the national grid8
(gigawatts)
83.0
Freshwater consumption4
(million cubic meters)
Relationships
Inputs
Stakeholders
- Customers
- Suppliers
- Partners
- Governments
50+
Countries of operations
400+
Domestic and foreign subsidiaries, joint arrangements, and associates
Outcomes and impacts
67.0
In-Kingdom Total Value Add (iktva)4
(%)
﷼ 746
$199
Payments to the Government9
(billion)
Financial
Inputs
﷼ 189
$50
Capital expenditure2
(billions)
﷼ 78
$21
Net debt3
(billions)
﷼ 1,999
$533
Average capital employed3
(billions)
Outcomes and impacts
﷼ 398
$106
Net income
(billions)
﷼ 320
$85
Free cash flow*
(billions)
﷼ 466
$124
Dividends paid
(billions)
20.2
ROACE*
(%)
Human
Inputs
75,118
Company employees4
Outcomes and impacts
0.021
Lost time injuries / illnesses rate4
(per 200,000 work hours)
0.046
Lost time injuries / illnesses rate4
(per 200,000 work hours)
9
Tier 1 process safety events4
8
Fatalities4
1. Hydrocarbon reserves of Saudi Arabian Oil Company (the Company) as at December 31, 2024, under the Concession agreement.
2. Capital expenditures do not include external investments.
3. For definition of net cash and average capital employed, refer to Annual Report Section 2: Results and Performance – “Non-IFRS measures reconciliations and definitions.”
4. Refer to Annual Report Section 3: Sustainability.
5. Refer to Annual Report Section 2: Results and Performance – “Upstream.”
6. Excludes SABIC Agri-Nutrients businesses, and includes only ZPC’s net chemical production capacity through our investment in Rongsheng.
7. Applies to Saudi Arabian Oil Company (the Company).
8. Power supplied through Aramco's captive power plants.
9. Includes income taxes, royalties, and dividends.
* Refer to Annual Report Section 2: Results and Performance – “Non-IFRS measures reconciliations and definitions.”