POLISCOPE
Back to feed
NewsWPLG Local 10November 3, 2026Miami-Dade County

Saudi Aramco reports 35% jump in third-quarter net profit amid higher oil prices

Photo: WPLG Local 10

Saudi Aramco reported a third-quarter net profit of $36.3 billion, up 35% from the previous year, driven by higher oil prices, asset sales, and strong refinery profit margins. The company maintained its export levels during regional conflicts by utilizing the East-West pipeline and a U.S.-protected coastal corridor.

EnergyOil and GasCorporate EarningsMiddle East
Read the full story at WPLG Local 10

Why It Matters

The financial performance of the majority state-owned oil company directly affects government revenues in Saudi Arabia as the nation funds economic diversification projects.

Key Facts

  • Saudi Aramco reported a 35% increase in third-quarter net profit, rising to $36.3 billion from $26.9 billion in the year-earlier quarter.
  • Adjusted net profit rose 9% to $31.2 billion, excluding the sale of a stake in PRefChem to Petronas.
  • The company sold its oil for an average of $95.20 a barrel during the quarter, compared to $70.10 in the year-before quarter.
  • Oil prices surged following the outbreak of the Iran war due to supply disruptions and conflict uncertainty.
  • Saudi Aramco utilized its East-West pipeline to the Red Sea port of Yanbu to maintain oil exports while tanker traffic through the Strait of Hormuz faced risks.
  • The East-West pipeline was attacked on September 10 but has since resumed flows.
  • Oil is being transported through the Strait of Hormuz via a U.S.-protected corridor near the coast of Oman.
  • Exports continued despite attacks on Aramco facilities by Iranian-backed Houthi rebels in Yemen.
  • Saudi Aramco is a major revenue source for the Saudi government as it invests in economic diversification projects.

Who's Mentioned

locationOman“Country near whose coast a U.S.-protected corridor is used for transporting oil.”locationYemen“Country from which Iranian-backed Houthi rebels launched attacks on Aramco facil”OrganizationEast-West pipeline“Pipeline used by Saudi Aramco to maintain oil exports.”locationStrait of Hormuz“Waterway experiencing tanker traffic disruption due to the risk of Iranian attac”OrganizationSaudi Aramco“Majority state-owned oil company that reported increased net profit.”locationYanbu“Red Sea port where the East-West pipeline terminates.”locationFRANKFURT“City in Germany where the news was datelined.”OrganizationPetronas“Malaysian state oil company involved in the PRefChem stake purchase.”OrganizationPRefChem“Malaysian refining and petrochemical company.”locationGermany“Country where the reporting dateline is situated.”