State oil company Saudi Aramco of Saudi Arabia increased net profit in the third quarter of 2026 by about 34.5% compared to the same period last year - to $36.25 billion. The growth was driven by high oil prices and income from asset sales, despite disruptions in energy supplies and attacks on the region's oil infrastructure.

This is stated in Saudi Aramco's financial results, published on November 3.

Adjusted net profit, which excludes certain one-time items, increased by 9% - to $31.2 billion from $28.6 billion a year earlier. Thus, a significant part of the total net profit growth was related not only to core operations.

In particular, in September Saudi Aramco completed the sale of its stake in the Malaysian refining and petrochemical company PRefChem to PETRONAS. As a result of the deal, Aramco recognized a one-time gain of about $6.91 billion.

A key factor in improved financial results was higher oil prices. The average realized price for Saudi Aramco crude oil in the third quarter was $95.2 per barrel compared with $70.1 in the same period of 2025. At the same time, compared to the second quarter of 2026, this figure decreased from $108.1 per barrel.

The company also reported a significant improvement in downstream results. Adjusted operating profit for the refining and marketing segment before interest and taxes increased by 234% year-on-year due to higher refining margins.

Operating cash flow was $38.7 billion compared with $36.1 billion a year earlier. Free cash flow increased from $23.6 billion to $28.2 billion. The board of directors declared base dividends of $21.9 billion for the quarter, up 3.5% from the year-earlier period. Payments are planned for the fourth quarter.

Saudi Aramco CEO Amin Nasser noted that geopolitical instability and attacks on key energy facilities continue to worsen the global energy supply crisis. According to him, the company has managed to maintain supplies thanks to a diversified infrastructure and flexibility of the logistics system.

One of the key elements of export logistics remains the East-West pipeline, which connects the eastern oil-producing areas of Saudi Arabia with the Red Sea coast. Its use reduces dependence on sea routes through the Strait of Hormuz.

Saudi Aramco is also considering opportunities to create additional oil storage capacity abroad and use alternative export routes. The company seeks to maintain supply stability amid heightened risks to the Middle East oil infrastructure.

For the first nine months of 2026, Saudi Aramco's net profit was $101.5 billion, up from $75.6 billion in the same period last year. Adjusted profit for the period reached $98.4 billion.

Based on: Saudi Aramco, Saudi Aramco third quarter 2026 financial report