Business · 2026-11-03 · Morning briefing

Saudi Aramco profit jumps 35% despite infrastructure attacks

Saudi Aramco announced a 34.6% surge in third-quarter net profit to 135.9 billion riyals (€32.3bn), up from 101 billion riyals in the same period a year earlier. The state oil giant attributed the result to higher crude prices, elevated by regional conflict, and a significant one-off gain. The performance comes despite regular attacks on Saudi Arabia's energy infrastructure by Yemen's Iran-backed Houthis.

The result was boosted by a 25.9 billion riyal (€6.2bn) gain from the sale of a stake in the PRefChem petrochemical joint venture to Malaysia's Petronas. Adjusted net income, which excludes this, was nearly 117 billion riyals (€27.8bn). While up 9% year-on-year and beating analyst forecasts, this represented a 7% decline from the second quarter, when profit growth was a much stronger 44%.

The Houthis have regularly targeted Saudi tankers, pipelines, and refineries since July. Last month, the group claimed to have launched an attack on Aramco's headquarters in the kingdom's east.

Summary written by Cup of News with AI from the sources below. Check the originals for the full story.

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• Saudi Aramco Q3 2026 profit surges 35% to $36.3bn amid global energy disruptions
• Aramco Profit Rises 9% as Refining, Oil Price Drive Earnings
• Saudi Aramco third-quarter profit jumps on higher oil prices
• Aramco Q3 profit rises more than expected on oil price windfall
• Saudi Aramco’s adjusted profit jumps 33% as oil prices surge

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