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 corresponding period last year. The performance was supported by operational excellence, business resilience, and the company's ability to rapidly restore operations in the face of challenges. Cash flow from operating activities rose to SAR 145.2 billion ($38.7 billion), compared to SAR 135.4 billion ($36.1 billion) in the third quarter of 2025. Meanwhile, free cash flow climbed to SAR 105.8 billion ($28.2 billion), up from SAR 88.4 billion ($23.6 billion) during the same period last year. The company's gearing ratio decreased to 5.5 percent by the end of September 2026, compared to 6.2 percent at the end of last June, indicating the strength of the company's financial position. Aramco's Board of Directors announced a base dividend distribution for the third quarter valued at SAR 82.1 billion ($21.9 billion), representing a 3.5 percent increase year-on-year, to be paid during the fourth quarter of this year. At the segment level, adjusted earnings before interest, income taxes, and Zakat (EBIT) for the Downstream sector recorded a 234 percent increase year-on-year, driven by improved refining margins. In the Upstream sector, the company announced the commencement of production at the Zuluf crude oil increment project, confirming that its other major projects are progressing according to their specified schedules, including Phase Two of the Jafurah gas field project, the expansion of the Fadhili Gas Plant, and the Dammam field development project. In an effort to enhance the flexibility of its exports, Aramco said that the East-West Pipeline continued to provide additional options for oil exports, noting that it is seeking additional overseas storage capacity and new export routes with the aim of strengthening its global supply network. Aramco CEO Amin Nasser speaks at a press conference. (Reuters) The company also expanded its investments in the artificial intelligence sector by acquiring a 49 percent stake in HUMAIN, which included an asset transfer and cash contributions valued at around SAR 9.9 billion ($2.6 billion). In another step to diversify its activities, Aramco signed a shareholders' agreement to establish a joint venture for mineral exploration and hard-rock mining, leveraging its expertise in the upstream sector to expand into activities related to the energy and natural resources sector. Commenting on the results, Aramco President and CEO Amin Nasser said: ““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.” “Despite challenges, the unwavering dedication of our workforce, our operational excellence, the flexibility of our system, and the strength of a supply network built over decades enabled us to continue delivering reliably to our customers through this extraordinary period,” he added. “We continue to explore additional overseas storage capacity and alternative export routes to further strengthen our global supply network, and our robust operational and financial performance during this volatile period demonstrates the value of our resilience,” he went on to say. “Backed by our strong balance sheet, we remain focused on the disciplined execution of priority projects and on leveraging advanced technologies to enhance performance and unlock new opportunities. This is how we will continue to meet the world’s evolving energy needs and deliver value for our shareholders and customers,” he stressed.
