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Aramco’s profit rises as refining margins strengthen amid Iran war
Downstream earnings more than tripled to $10.3 billion as higher crude prices and refining margins offset lower production, Aramco said.
- On Tuesday, Aramco reported a 34 per cent annual increase in net income for the three months ended Sep 30, reaching $36.25 billion despite regional conflict.
- Higher revenue and refining operations drove strong financial performance, even as Iranian attacks on shipping in the Strait of Hormuz raised global supply concerns.
- Adjusted net income reached $31.2 billion, beating the median consensus of 12 analysts, as Aramco navigated disruptions from the US-Iran war.
- Increased earnings provide a critical financial cushion as Saudi Arabia faces pressure from Houthi attacks, supporting the kingdom's vast spending needs.
- Aramco president and chief executive Amin Nasser noted that geopolitical uncertainty continues to amplify the global supply crisis, with attacks targeting key energy facilities like the East-West pipeline.
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Aramco registered a net profit of $36.2 billion in the third quarter of 2026, an amount that represents an expansion of 35% compared to $26.9 billion a year earlier. Exclusive material for subscribers. To have full access, access the link of the material and register.
·Rio de Janeiro, Brazil
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Higher oil prices boost Saudi Aramco profits despite disruption from a
FRANKFURT, Germany (AP) — Majority state-owned oil company Saudi Aramco on Tuesday reported a 35% increase in third-quarter net profit as earnings were boosted by higher oil prices and the sale of its stake in a Malaysian
·Baltimore, United States
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Coverage Details
Total News Sources70
Leaning Left11Leaning Right13Center15Last UpdatedBias Distribution39% Center
Bias Distribution
- 39% of the sources are Center
39% Center
L 28%
C 39%
R 33%
Factuality
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