Saudi Aramco’s adjusted income rose in the third quarter of 2026 as its realized crude price increased, cushioning lower output and pipeline interruptions that tested supply reliability.
Adjusted net income, which Aramco reports on a non-IFRS basis, was $31.198 billion, up 9% from $28.581 billion a year earlier. The company’s average realized crude price rose to $95.20 per barrel from $70.10, while total hydrocarbon production fell to 11.046 million barrels of oil equivalent per day from 13.267 million.
Reported net income was $36.252 billion, compared with $26.937 billion a year earlier. It included a $6.907 billion gain from selling Aramco’s equity interest in PRefChem. EconoTimes previously covered Aramco’s third-quarter net profit result.
Aramco said facilities in the Kingdom were targeted in attacks during the quarter and afterward. Separately, the company said it did not expect the impact to be material to its financial position, results or cash flows as of Sept. 30, and that it would continue assessing potential effects. Aramco also reported East-West Pipeline disruptions during the quarter and said it restored western loadings. Supply reliability was 97.8%, down from 99.9% a year earlier.
Freight costs added to the pressure. The International Energy Agency (IEA) said large-tanker rates for crude moving from the Middle East Gulf to Asia exceeded $37 per barrel by mid-October 2026, more than five times the pre-conflict level. The agency linked higher costs to congestion around the Strait of Hormuz, rerouting and ship-to-ship transfers, which kept vessels occupied longer. It said higher freight can narrow Asian refiners’ margins and raise costs for energy-importing economies, while exporters face downward pressure on prices. Aramco also said higher freight costs contributed to increased selling, administrative and general expenses. The IEA cited freight increases after Russia’s full-scale invasion of Ukraine as a precedent.
Aramco President and CEO Amin H. Nasser said the company was exploring additional overseas storage capacity and alternative export routes. The board declared a $21.9 billion base dividend for the quarter, up 3.5% from a year earlier, with payment scheduled for Nov. 25, 2026.
