Saudi Aramco reports strong third-quarter profit, citing refining gains

The company’s adjusted net income reached $31.2 billion, a rise from $28.6 billion in the same period last year. This figure surpassed analyst expectations, which averaged $30.66 billion.

Aramco’s downstream operations, focused on refining crude oil, saw adjusted earnings before interest and taxes surge to $10.3 billion, a 234% increase compared to the previous year.

“Geopolitical uncertainty and attacks on key energy facilities continued to amplify the global energy supply crisis in the third quarter of 2026, with serious implications for global energy security,” stated Aramco CEO Amin H. Nasser.

Nasser emphasized the company’s ability to maintain energy supply through operational flexibility and a resilient supply network, and noted ongoing efforts to expand overseas storage and diversify export routes.

The company’s free cash flow for the quarter totaled $28.2 billion, up from $23.6 billion a year prior.

Aramco’s board approved a third-quarter base dividend of $21.9 billion, representing a 3.5% year-over-year increase, to be distributed in the fourth quarter.

The company confirmed that major upstream projects are progressing as planned and highlighted the acquisition of a 49% stake in Saudi artificial intelligence firm HUMAIN.