Saudi Aramco achieved net profits of 121.5 billion riyals during the second quarter, exceeding analysts' expectations of 114.8 billion riyals compiled by Bloomberg.
The Saudi energy giant's profits jumped 41.9% compared to the same quarter of 2025, while revenues rose 19% year-on-year to 450.8 billion riyals.
In its disclosure on today’s trading platform, Aramco attributed the profit growth primarily to higher revenues, thanks to higher prices for refined products, chemicals, and crude oil.
The average price of a barrel of crude oil during the second quarter of this year was $108.1, compared to $66.7 during the same quarter last year, and $76.9 during the previous quarter, according to the company's disclosure.
The role of the East-West pipeline
Saudi Aramco's stock surged ahead of the quarterly results announcement, fueled by growing investor optimism about the company's performance, coinciding with a report indicating that Saudi oil continued to flow through the port of Yanbu despite threats from the Iranian-backed Yemeni Houthi group.
Shares in the world’s largest energy company rose 2% at yesterday’s close in Riyadh to 27.12 riyals, the highest level since June 11, the eve of the announcement of the preliminary agreement between the United States and Iran to end the war, which collapsed at the beginning of July.
Commenting on these results, Saudi Aramco President and CEO Amin Nasser said: “Saudi Aramco’s performance in the first half of 2026 was characterized by remarkable resilience. Despite the unprecedented supply disruptions in the Strait of Hormuz, we continue to demonstrate our ability to maintain business continuity by leveraging our diversified asset base and strategic infrastructure, which is underpinned by decades of planning. These assets include the East-West pipeline, storage capacity, and export opportunities, enabling us to maintain production, transportation, and export, while also advancing key projects despite challenging regional conditions.”
Aramco confirmed in its statement that the targeting of some of the company's facilities in the Kingdom during the second quarter did not have a material impact on its financial position, operating results, or cash flows.
She added: We will continue to assess any incident to determine its potential material impact on the company's operations and financial performance. She emphasized that the company maintained a 98.4% supply reliability rate during the second quarter, despite ongoing geopolitical uncertainty in the region.
Investments increased by 4 billion riyals
While Aramco continues to use the East-West pipeline and export infrastructure on the Kingdom’s west coast to improve supply flexibility, the company confirmed it is ready to resume exports from the Eastern Province at an accelerated pace as regional conditions improve.
Ziad Al-Murshid, Executive Vice President and Chief Financial Officer, noted that the company’s operational and financial flexibility contributed to a 33% increase in adjusted net income compared to the previous year.
He also explained that capital expenditures for the exploration and production sector amounted to 38.7 billion riyals in the second quarter of 2026, up from 34.6 billion riyals for the same quarter of last year.
The company revealed that it has made tangible progress in the Zuluf, Dammam and Jafurah gas field projects, ensuring that maximum sustainable production capacity is maintained at 12 million barrels of oil.
Aramco announced the distribution of cash dividends to the company’s shareholders for the second quarter at a rate of 0.34 riyals per share, totaling 81.06 billion riyals.
The Saudi budget performance report for the second quarter showed that oil revenues grew by 22% year-on-year to reach 185.1 billion riyals, the highest quarterly since the third quarter of 2024.
