Riyadh (Saudi Arabia) (AFP) - The giant Saudi Aramco company announced on Tuesday that its profits rose by 34.6 percent in the third quarter of 2026 compared to the same period last year, after the war in the Middle East led to a rise in crude oil prices.
Published on: 03/11/2026 - 06:39
Oil tankers, pipelines, storage facilities, and refineries have been targeted since the recent escalation with the Houthis in Yemen in July, and their launch of almost daily attacks on the Kingdom since the beginning of last month.
Two people were killed last month as a result of falling shrapnel after intercepting a drone that was targeting a facility in the Shaybah oil field, located in the oil-rich eastern region.
The Kingdom, the world's largest exporter of crude oil, also had to deal with Iran and the Houthis, supported by Tehran, obstructing freedom of navigation in the Straits of Hormuz and Bab al-Mandeb, respectively, which negatively affected export operations.
Despite the attacks, Aramco, the crown jewel of the Saudi economy and one of the most valuable companies in the world, recorded a significant rise in its profits.
The giant Aramco company, the majority of whose shares are owned by the state, stated in a statement that net income in the third quarter of 2026 amounted to 135,944 billion riyals (36.25 billion US dollars), compared to 101 billion riyals (26.9 billion dollars) in the same period in 2025.
Saudi Aramco President and Chief Executive Officer Amin Nasser said in the company’s statement, “Geopolitical uncertainty and attacks on major energy facilities continued to intensify the global energy supply crisis in the third quarter of 2026, which had serious repercussions on global energy security.”
© 2026 AFP
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