Energy Giant Posts $31.2B Net Income After Export Routes Rerouted
Saudi Aramco reported a 9 per cent increase in third-quarter adjusted net income to $31.2 billion on November 3, 2026, bouncing back from September drone strikes on its critical East-West pipeline. Global energy markets and institutional investors watched crude and liquids output surge 15 per cent quarter-on-quarter as alternative maritime routes bypassed the Strait of Hormuz.
Record Refining Margins Push Quarterly Earnings Past Estimates
Downstream earnings before interest and tax jumped 234 per cent to a record above $10 billion, driven by higher realized crude prices of $95.20 per barrel and global refining shortfalls. Rerouted shipments through eastern Gulf terminals and ship-to-ship transfers off Oman restored Saudi crude exports to pre-strike levels of approximately 7 million barrels a day by October. Operating cash flow reached $38.7 billion, allowing the board to approve a $21.9 billion base dividend payable in the fourth quarter.
Saudi authorities previously halted operations on the East-West pipeline on September 11 after drone strikes damaged three of its 11 pumping stations, before partially resuming flow on September 22.
