Saudi Aramco's Third-quarter Net Income Jumps Amid Higher Refining Margins

04:09 AM EST, 11/03/2026 (MT Newswires) -- Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, posted a 9% year-over-year growth in adjusted net income for the third quarter on stronger refining margins. The state-owned energy giant's adjusted net income for the three months ended Sept. 30 rose to $31.2 billion from $28.6 billion a year ago, according to a Tuesday release. Attributable net profit jumped to 137.39 billion Saudi riyals from 97.26 billion riyals, while revenue climbed to 464.33 billion riyals from 386.17 billion riyals previously. Aramco said the increase in revenue was mainly driven by higher prices of refined and chemical products and crude oil, partially offset by lower volumes of such products. "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," President and Chief Executive Amin Nasser said. "Despite challenges, the unwavering dedication of our workforce, our operational excellence, the flexibility of our system, and the strength of a supply network built over decades enabled us to continue delivering reliably to our customers through this extraordinary period." Nasser also said the company is exploring additional overseas storage capacity and alternative export routes to mitigate the risks associated with global oil supply. The company's board increased the third-quarter base dividend to 0.3393 riyal per share from 0.3312 riyal per share paid previously.