Saudi Aramco posts 44% jump in profit despite Hormuz disruption
Saudi Aramco reported a 44 per cent jump in second-quarter net profit, supported by higher oil, refined products and chemicals prices
04 August, 2026
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Saudi oil giant Aramco reported a 44 per cent increase in net profit for the quarter ended June 30, driven by higher sales, mainly from stronger prices for crude oil, refined products and chemicals, despite disruptions to shipping through the Strait of Hormuz.
The world’s largest oil exporter posted net profit of $32.69bn for the three months to June 30, underscoring the resilience of its operations during one of the most challenging periods for regional energy markets this year.
The company also reported adjusted net income of $33.4bn for the second quarter and $67.2bn for the first half of 2026. Cash flow from operating activities reached $25.4bn during the quarter and $56.2bn for the six-month period, while free cash flow totalled $12.3bn in the second quarter and $30.9bn in the first half. Second-quarter free cash flow was impacted by a $13.6bn working capital build.
Aramco’s board declared a base dividend of $21.9bn for the second quarter, to be paid in the third quarter of 2026.
President and CEO Amin H. Nasser said the company’s performance reflected the resilience of its operations despite 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 capitalising on our diverse asset base and multi-decade planning, including strategic infrastructure such as the East-West Pipeline, storage capacity, and export terminals,” he said.
Nasser added that geopolitical uncertainty and declining global inventories had reinforced the importance of energy security, while Aramco’s ability to respond quickly to market dynamics strengthened its role in global energy markets.
The company said it continued to utilise the East-West Pipeline to maintain crude flows across its network during the regional disruption.
Aramco also said the Zuluf crude oil increment project remains on track for completion in 2026, while the Fadhili Gas Plant expansion is expected to be completed in 2027. The first phase of the Jafurah Gas Plant continued steady production of sales gas, with work progressing on phase two ahead of its planned completion in 2027.
The energy giant also announced an agreement to sell its entire equity stake in PRefChem as part of its strategy to optimise its downstream portfolio.
Looking ahead, Nasser said Aramco entered the second half of the year with “solid financial and operating momentum”, supported by one of the strongest balance sheets in the sector, sustainable base dividend distributions and continued investment in strategic growth projects.






















