Riyadh – Saudi Aramco’s board announced on Tuesday that the company’s adjusted net income grew by 9% in the third quarter of 2026 compared with the same period a year earlier. The oil‑giant also confirmed a basic dividend of 82.1 billion Saudi riyals (about $21.9 billion), representing a 3.5% increase over the previous year and scheduled for payment in the fourth quarter.

The most striking performance driver came from the downstream segment – refining, chemicals and marketing – where adjusted earnings before interest, taxes, depreciation, amortisation and zakat (EBITDA) jumped 234% year‑on‑year. Company officials attributed the surge to a marked improvement in refining margins, which lifted profitability across the integrated value chain.

Operationally, Aramco highlighted several key projects that remain on track. Production has started at the Zuluf oil‑field expansion, adding new crude capacity to the company’s portfolio. The second phase of the Jafurah development, the gas‑plant expansion at Fadhili, and the ongoing development of the Dammam field are proceeding according to schedule. Meanwhile, work on the east‑west pipeline continues, providing greater flexibility for export shipments.

In line with its strategy to broaden global supply options, Aramco said it is actively seeking additional storage capacity abroad and exploring new export routes. The company’s logistics teams are evaluating offshore storage facilities and alternative maritime corridors to reinforce the resilience of its export network.

Strategic investments were also disclosed. Aramco completed the acquisition of a 49% stake in Huimin, transferring assets and contributing roughly 9.9 billion riyals ($2.6 billion) in cash. The deal expands Aramco’s footprint in the fast‑growing artificial‑intelligence sector. Additionally, a shareholders’ agreement was signed to launch a joint‑venture focused on mineral exploration and hard‑rock mining, leveraging Aramco’s upstream expertise to diversify into adjacent industries.

Commenting on the results, President and CEO Amin bin Hassan Al Nasser said, “Geopolitical uncertainty and recent attacks on major energy facilities intensified the global energy‑supply crisis in Q3 2026, creating serious repercussions for worldwide energy security. Despite these challenges, the dedication of our people, operational excellence, and the robustness of our supply‑chain network enabled us to continue delivering reliable supplies to our customers.”

Al Nasser added that the company’s continued search for extra storage abroad and alternative export pathways underscores its commitment to a resilient global supply chain. “Our strong financial foundation allows us to stay disciplined on priority projects, adopt advanced technologies, and pursue new growth opportunities while meeting the world’s rising energy demand,” he said.

The full third‑quarter and nine‑month 2026 interim report is available on Aramco’s website for further details.

Sources (learn more):

alwatan.com.sa — https://www.alwatan.com.sa/article/1188492