Saudi Aramco: Adjusted Net Income Rises 9 Percent in the Third Quarter to Reach $31.2 Billion

Riyadh -- Saudi Aramco announced on Tuesday that its adjusted net income for the third quarter of 2026 rose by 9 percent year-on-year to reach SAR 117 billion ($31.2 billion), compared to SAR 107.2 billion ($28.6 billion) in the same period last year. In a statement, the company said operating cash flows amounted to SAR 145.2 billion ($38.7 billion) during the third quarter of this year, compared to SAR 135.4 billion ($36.1 billion) in the third quarter of 2025. Free cash flow stood at SAR 105.8 billion ($28.2 billion), versus SAR 88.4 billion ($23.6 billion) in the third quarter of last year.

The company added that its debt ratio remained at 5.5 percent as of September 30, 2026, compared to 6.2 percent on June 30 last year. It announced that the Board of Directors approved a third-quarter base dividend of SAR 82.1 billion ($21.9 billion), representing a 3.5 percent year-on-year increase, to be paid during the fourth quarter of this year.

Adjusted earnings before interest, income taxes, and zakat for the Refining, Chemicals, and Marketing segment rose by 234 percent year-on-year, driven by improved refining margins. The company also highlighted the start of production at the Ghawar oil field’s crude oil production increase project, confirming that key exploration and production projects are on schedule, including the second phase of the Jafurah project, the Fadhili gas plant expansion, and the Dammam field development project.

It noted that the East-West pipeline continued to provide flexibility in export operations, while the company continued exploring additional overseas storage options and new export routes to strengthen its global supply network.

In a related development, the company reported acquiring a 49 percent stake in Huamin, involving the transfer of assets and cash contributions totaling approximately SAR 9.9 billion ($2.6 billion), thereby strengthening its presence in the rapidly growing artificial intelligence sector. It also signed a shareholders’ agreement to establish a joint venture for mineral exploration and hard rock mining, leveraging its expertise in exploration and production to expand into a related sector.

Quoting the statement, Saudi Aramco President and CEO Amin Nasser said that geopolitical uncertainty and attacks on major energy facilities contributed to the intensification of the global energy supply crisis during the third quarter of 2026, with serious repercussions for global energy security. Nasser added that the high morale and steadfast dedication of the workforce, operational excellence, the flexibility of the company’s business system, and the strength of its supply chain network, built over decades, enabled it to continue providing reliable supplies to its customers during this exceptional period.

He clarified that the company continues to seek additional overseas storage capacities and alternative export routes to enhance its global supply network, noting that its strong operational and financial performance during this volatile period demonstrates the value of its resilience. Nasser reaffirmed the company’s continued focus on the disciplined execution of priority projects and the deployment of advanced technologies to enhance performance and open avenues for new opportunities, thereby helping to meet the world’s growing energy needs and continue delivering value to shareholders and customers. (End) A.S. / M.N.F.