Aramco records higher profits at SAR 241.6bn in H1-26 despite geopolitical tensions

Saudi Arabian Oil Company (Aramco) logged net profits totaling SAR 121.51 billion for the second quarter (Q2) of 2026, an annual hike of 41.90% from SAR 85.63 billion.

The oil giant attributed the growth primarily to higher prices for crude oil, refined products, and chemicals, alongside increased sales-related income.

Revenue for the quarter rose by 18.99% to SAR 450.77 billion, versus SAR 378.83 billion a year earlier. Operating profit reached SAR 216.15 billion, up 29.36% year-on-year (YoY).

In the first half (H1) of 2026, the group’s net profits climbed by 33.27% to SAR 241.64 billion, while total revenue for the half-year period reached SAR 883.87 billion.

Free cash flow for the quarter stood at SAR 45.98 billion, impacted by a SAR 51.10 billion increase in working capital. Capital expenditures for H1-26 totaled SAR 94.74 billion.

Aramco maintained its gearing ratio at 6.20% as of 30 June 2026, compared to 4.80% at the end of March 2026.

Amin Nasser, President and CEO of Aramco, said: “ Aramco’s first half performance in 2026 has been defined by the remarkable resilience of our people and the agility of our business and operations to withstand and respond to rapidly changing market conditions.”

“Despite the unprecedented supply disruption through the Strait of Hormuz, we continued to demonstrate our ability to maintain business continuity by capitalizing on our diverse asset base and multi-decade planning, including strategic infrastructure such as the East-West Pipeline, storage capacity, and export terminals,” he elaborated.

The CEO affirmed: “That enabled us to sustain production and exports while advancing key projects, despite the challenging regional environment.”

In Q1-26, Aramco’s net profits jumped by 25.55% YoY to SAR 120.13 billion from SAR 95.68 billion.