Aramco Reports Higher Quarterly Earnings as Refining Margins Strengthen
Operating cash flow totaled $38.7 billion in the July-September period, while free cash flow climbed to $28.2 billion, compared with $23.6 billion in the corresponding quarter last year.
The company’s board approved a base dividend of $21.9 billion for the third quarter, representing a 3.5% increase from a year earlier. The payment is scheduled for the fourth quarter.
Downstream adjusted earnings before interest and taxes (EBIT) jumped 234% year-on-year, reflecting stronger refining margins.
Aramco President and CEO Amin Nasser said geopolitical instability and attacks on major energy infrastructure had intensified concerns over the security of global energy supplies during the three months ending in September.
In response, the company is examining additional export corridors and overseas storage options, as well as the potential expansion of its East-West Pipeline to reinforce its ability to deliver energy to international markets.
“We continue to explore additional overseas storage capacity and alternative export routes to further strengthen our global supply network, and our robust operational and financial performance during this volatile period demonstrates the value of our resilience,” he said.
Nasser also confirmed that major upstream development projects were progressing according to schedule, backed by the company’s solid financial position.
Beyond its core energy operations, Aramco continued to pursue investments in related sectors. These included acquiring a 49% stake in artificial intelligence company HUMAIN through an arrangement involving asset transfers and cash contributions of approximately $2.6 billion.
The company also signed a joint venture agreement focused on hard-rock mineral exploration, further extending its activities into adjacent industries.
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