Saudi Aramco said net profit in the third quarter rose by 34,5% — to $36,25 billion. The company noted this occurred despite reduced output and attacks on its infrastructure.
Oil prices and revenue
Over the year the average price at which Aramco sold oil rose from $70,1 to $95,2 per barrel, which helped offset lower production volumes. In the second quarter the average price was higher — $108,1 per barrel.
The company says higher prices supported revenue and allowed net profit to increase even as production volumes fell.
Production volumes and supply disruptions
Aramco does not disclose crude oil production volumes, but reported total output of 11,05 million barrels of oil equivalent per day versus 13,3 million a year earlier. Liquids production fell from 10,8 million to 8,7 million barrels per day.
The Organization of the Petroleum Exporting Countries (OPEC), citing secondary sources, says that in September Saudi Arabia was producing about 8 million barrels per day, whereas before the war this figure exceeded 10 million. The East–West pipeline, the company headquarters and export routes were damaged during the attacks.
Supply reliability, projects and dividends
In the third quarter Aramco delivered supply reliability of 97,8% versus 99,9% a year earlier and 98,4% in the second quarter of 2026. The company restored shipments from the west coast after pipeline disruptions and is seeking additional storage capacity and alternative export routes.
“Geopolitical instability and attacks on energy assets are exacerbating the global supply crisis for energy carriers. Despite the difficult situation, the company continued to meet its obligations to customers,” said chief executive officer Amin Nasser.
Aramco announced base dividend payments to shareholders of $21,9 billion for the third quarter, the same amount as in each of the two previous quarters. The company is continuing large projects: the second phase of work at the Jafurah gas field is due to be completed next year, aiming to raise production there to 2 billion standard cubic feet of gas per day by 2030.
The Zuluf oil project has already started producing oil and is expected to reach processing capacity of up to 600 thousand barrels per day by the end of 2026. In September Aramco completed the sale of its half of Malaysian PRefChem to partner Petronas.
