16 publishers · first seen Tue, 03 Nov 2026 05:31 UTC · updated Wed, 04 Nov 2026 18:35 UTC
Saudi Aramco reported a 9% increase in adjusted net income for Q3 2026, reaching $31.2 billion, despite disruptions caused by drone attacks on its East-West pipeline in September. The company has managed to restore exports to prewar levels by utilizing alternate routes and ship-to-ship transfers near Oman. Oil and other liquids output rose 15% from the previous quarter but remains below last year's levels. CEO Amin Nasser highlighted the company's efforts to explore more overseas storage and alternative export routes to mitigate the impact of geopolitical uncertainties. The company also announced a 3.5% increase in its base dividend to $21.9 billion, scheduled for the fourth quarter.
The increase in net profit was driven by higher oil prices and the sale of its stake in a Malaysian refining and petrochemical company. Saudi Aramco sold its oil at an average of $95.20 a barrel during the quarter, up from $70.10 in the year-before quarter. The company's downstream segment saw a significant boost in earnings, with adjusted earnings before interest, income taxes, and zakat increasing by 234%.
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