Aramco reported improved financial performance for the third quarter of 2026, with adjusted net income rising to $31.2 billion, compared with $28.6 billion in the same period last year.

Cash flow from operating activities increased to $38.7 billion, up from $36.1 billion in Q3 2025, while free cash flow climbed to $28.2 billion from $23.6 billion.

The company’s gearing ratio stood at 5.5 per cent as of September 30, 2026, compared with 6.2 per cent at the end of June.

Aramco’s board declared a base dividend of $21.9 billion for the third quarter, representing a 3.5 per cent year-on-year increase, with payment scheduled for the fourth quarter.

Operationally, downstream adjusted earnings before interest and taxes (EBIT) surged 234 per cent year-on-year, supported by stronger refining margins.

Production also commenced at the Zuluf crude oil increment, while major upstream projects, including the second phase of Jafurah, the Fadhili Gas Plant expansion and the Dammam development project, remain on track.

Aramco said its East-West Pipeline continued to provide export flexibility, while additional overseas storage capacity and new export routes are being explored.

The company also expanded its investment portfolio through the acquisition of a 49 per cent stake in HUMAIN, involving an asset transfer and approximately $2.6 billion in cash contributions, strengthening its presence in the growing artificial intelligence sector.

Separately, Aramco signed a shareholders’ agreement to establish a joint venture focused on mineral exploration and hard-rock mining, leveraging its upstream expertise to expand into adjacent sectors.

Amin Nasser, Aramco President & CEO, 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. 

“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. 

“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.” -OGN/TradeArabia News Service