Aramco: $31.2 billion net profit in Q3
Aramco's net profit rose to $31.2 billion, accompanied by dividend distributions and increased investments in energy and AI projects.
Translated by Qiyas from النهار — Original source
Saudi Aramco announced that its adjusted net income for the third quarter of 2026 rose by 9% year-on-year to $31.2 billion, compared with $28.6 billion in the same period last year. In a statement, the company said operating cash flows reached $38.7 billion in the third quarter of this year, up from $36.1 billion in the third quarter of 2025, while free cash flow amounted to $28.2 billion, compared with $23.6 billion in the third quarter of last year. It added that the debt ratio stood at 5.5% as of September 30, 2026, down from 6.2% on June 30, announcing that the board of directors approved a third-quarter dividend of $21.9 billion, a 3.5% year-on-year increase, to be paid in the fourth quarter of this year.
The company noted that adjusted earnings before interest, income taxes, and zakat for the Refining, Chemicals, and Marketing segment surged 234% year-on-year, driven by improved refining margins. It 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 expansion of the Fadhili gas plant, and the Dammam field development project. It also stated that the East–West pipeline continued to provide flexibility in export operations, while the company continued to seek additional overseas storage options and new export routes to strengthen its global supply network.
In a related development, the company reported acquiring a 49% stake in Huamai, involving the transfer of assets and cash contributions totaling approximately $2.6 billion, thereby strengthening its presence in the rapidly growing artificial intelligence sector. It also added that it had 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.
The statement quoted Saudi Aramco President and CEO Amin Nasser, who said that geopolitical uncertainty and attacks on key energy facilities contributed to an intensification of the global energy supply crisis in 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 capacity 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 affirmed the continued focus on disciplined execution of priority projects and the deployment of advanced technologies to boost performance and open avenues for new opportunities, helping to meet the world’s growing energy needs and continue delivering value to shareholders and customers.
