Key facts
- Aramco reported third-quarter adjusted net income of $31.2 billion, above a $28.7 billion analyst consensus compiled by Bloomberg.
- Downstream adjusted EBIT more than tripled to $10.3 billion from $3.1 billion a year earlier, a 234% increase.
- Aramco kept its third-quarter base dividend at $21.9 billion, a 3.5% increase on the year.
- Aramco said attacks on the East-West pipeline and other infrastructure by the Iran-backed Houthis disrupted supply.
- Chief executive Amin Nasser said geopolitical uncertainty and attacks on energy facilities amplified a global energy supply crisis.
Saudi Aramco reported adjusted net income of $31.2 billion for the third quarter on Tuesday, up from $28.6 billion a year earlier and above a $28.7 billion analyst consensus estimate compiled by Bloomberg, according to a report published November 3, 2026. The company said higher crude oil and fuel prices offset the impact of supply disruptions caused by attacks on its assets.
Aramco said attacks on the East-West onshore oil pipeline that bypasses the Strait of Hormuz, and other attacks on its infrastructure by the Iran-backed Houthis, coincided with a Middle East conflict that raised crude oil prices and cut refinery output and exports. It said that led to higher refining margins and record-high product prices in many markets. Downstream adjusted earnings before interest and tax more than tripled to $10.3 billion from $3.1 billion a year earlier, a 234% increase.
Aramco kept its third-quarter base dividend at $21.9 billion, unchanged from the second quarter of 2026 and a 3.5% increase on the year. The dividend goes mostly to the Kingdom of Saudi Arabia, which holds more than 90% of the oil giant.
President and chief executive Amin Nasser said in a statement: "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." Nasser also said the company continues to explore additional overseas storage capacity and alternative export routes.
The results followed third-quarter earnings last week from the world's biggest international oil companies, which the report said were boosted by higher refining margins and high oil and gas prices.