RIYADH: Saudi Aramco will continue tapping bond markets in the future despite maintaining one of the lowest gearing ratios in the energy industry, according to a top official. 

In an interview with Bloomberg, Aramco President and CEO Amin Nasser said the oil giant’s gearing ratio, a financial metric that compares a company’s debt to its equity, is currently around 5 percent. That’s significantly lower than the industry average, where many peers operate with levels between 15 and 20 percent.

“Our gearing today is around 5 percent — still one of the lowest gearing, you know. It’s almost half of the average compared to other energy industry players in the market, and we will continue to tap into that additional bond markets in the future,” Nasser said. 

He continued: “But we have a low gearing ratio, which still, as you consider it, is very low compared to any players in the markets.” 

The low gearing ratio, which reflects strong financial discipline and limited reliance on debt, is part of what enables Aramco to maintain stability amid market fluctuations. 

Gearing is commonly used by analysts and investors to assess a company’s financial leverage, with lower ratios often indicating a stronger balance sheet and reduced financial risk. 

In the interview, Nasser also reaffirmed the company’s commitment to maintaining high dividends. “We have a strong balance sheet, and our dividend is one of the highest, the highest globally. We’re expecting to pay dividends that go to the majority shareholder and other shareholders, which is the government, of $85.4 billion this year.” 

He said the company benefits from having spare capacity, which allows it to bring more barrels to the market. “For every million barrels, that will have a huge impact on our net income. I would say it will give you a $10 cushion for every million barrels that you put into the market.”   

Nasser added: “We have today close to 3 million barrels of spare capacity, so other companies do not have that to cushion any drop in prices. For us, we do have that spare capacity that is healthy, strong, and when you put it, it allows you to increase significantly your net income.” 

He emphasized the company’s ability to withstand lower oil prices due to its operational efficiency and robust infrastructure.

“We are the lowest cost producer. Our extraction cost is $3, and it still is $3. And with low extraction cost, healthy balance sheet, and our investment that is continuing to be capturing opportunities that we have,” Nasser said. 

JEDDAH: King Abdulaziz International Airport has secured third place in the 2024 Airport Connectivity Index for the Middle East, marking a significant milestone in Saudi Arabia’s ascent as a global aviation hub.

The ranking was announced at the Air Connectivity Conference 2025, held in Shanghai, where the Airports Council International Asia-Pacific and Middle East unveiled its annual index.

KAIA followed Dubai International Airport and Qatar’s Hamad International Airport in the regional rankings.

This recognition underscores both KAIA’s growing operational capacity and Saudi Arabia’s broader Vision 2030 goal of transforming the Kingdom into a leading logistics and transportation center. As part of that strategy, Saudi Arabia aims to handle 330 million passengers annually, connect to 250 international destinations, and transport 4.5 million tonnes of cargo by 2030.

Mazen Johar, CEO of Jeddah Airports Co., said the latest ranking reflects the airport’s progress in expanding its air network and enhancing connectivity.

“This milestone demonstrates our commitment to operational excellence and aligns with our strategy to establish KAIA as a pivotal global hub,” he said in a statement to SPA.

Johar noted that the airport’s improved ranking is a result of sustained efforts to boost competitiveness, upgrade infrastructure, and elevate passenger experience in line with national transport goals.

KAIA also held the third spot in the 2023 edition of the index, announced during ACI’s annual assembly in Riyadh.

As part of its long-term development plans, JEDCO is implementing upgrades aligned with the National Transport and Logistics Strategy. These enhancements aim to increase KAIA’s passenger capacity to 114 million annually by the end of the decade.

In 2024, KAIA served 49.1 million passengers — up 14 percent from 2023 — marking the highest annual passenger volume recorded by any airport in the Kingdom. The busiest day was December 31, when over 174,600 passengers passed through the airport. December also set a monthly record, with traffic exceeding 4.7 million passengers.

In the Asia-Pacific rankings, Shanghai Pudong International Airport claimed the top spot, followed by Incheon International Airport in South Korea and Guangzhou Baiyun International Airport. Hong Kong International Airport was recognized as the most improved airport in terms of connectivity across both regions.

Headquartered in Hong Kong with a regional office in Riyadh, ACI Asia-Pacific and Middle East represents airports in some of the world’s fastest-growing aviation markets. The Airport Connectivity Index— developed with PwC in 2023 and refined in its third edition — measures network scale, frequency, destination economic weight, and connection efficiency.

According to ACI, air connectivity in the Middle East grew 28 percent year on year, while Asia-Pacific saw a 13 percent increase, reflecting a 14 percent average growth across both regions. These gains signal a robust post-pandemic recovery and the continued momentum of global air travel.