Riyadh – Saudi oil giant Aramco on Tuesday announced a 34.6% surge in third-quarter net profit, as the Middle East war keeps crude prices soaring while the kingdom’s energy infrastructure comes under regular attack.
Due to the regional conflict, the country has oil tankers, pipelines and storage facilities targeted in bombings and faces blockades in the strategically important Bab el-Mandeb and Strait of Hormuz, key routes for oil shipments, further complicating its exports.
Yet Aramco—the cornerstone of Saudi Arabia’s economy and one of the world’s most valuable companies—saw its profits soar during the third quarter thanks in large part to stubbornly high oil prices.
The firm said net profit hit SAR 135.9 billion (USD 36.2 billion) in the third quarter, compared with around SAR 101 billion (USD 26.4 billion) in the same period a year earlier.
The results come as energy majors around the world have seen earnings surge because of disruptions to oil and gas supplies in the Middle East, pushing up refining margins and prices.
But Aramco’s chief executive warned that the conflict continued to weigh heavily on energy security.
“Geopolitical uncertainty and attacks on key energy facilities continued to amplify the global energy supply crisis in the third quarter of 2026, with serious implications for global energy security,” president and CEO Amin H. Nasser said in a statement.
Saudi Aramco’s CEO also said that preliminary engineering had already on an expansion of the East-West pipeline that can move millions of barrels of crude from the Persian Gulf to the Red Sea daily. The CEO said last month that Aramco hoped to increase the capacity of the pipeline network from 7 million to 10 million barrels a day.
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Translated by Guilherme Miranda
