:BAR_CHART [title:Aramco quarterly net profit (USD billions)]
Q4 2025 | 17.8
Q1 2026 | 32.5
Q2 2026 | 32.4
Q3 2026 | 36.3

:STATS [links:https://www.arabnews.com/business/aramcos-q3-net-profit-jumps-345to-363bn-3009542]
[icon:DOLLAR] Q3 net profit | $36.3 billion
[icon:CHART] Q3 adj. net income | $31.2 billion
[icon:TRENDING_UP] Net profit YoY change | +34.6%
[icon:DOLLAR] Free cash flow | $28.2 billion
[icon:DOLLAR] Operating cash flow | $38.7 billion
[icon:CHART] Oil sold at | $95.20 per barrel
[icon:TRENDING_UP] Oil price vs Q3 2025 | +$25.10 per barrel
[icon:USERS] Total production | 11 mmboed
[icon:DOLLAR] Base dividend Q3 | $21.9 billion

:TABLE [title:Upstream vs Downstream adjusted EBIT (USD billions)]
Segment | Q3 2025 | Q3 2026 | Change
Upstream EBIT | ~$44.0B | ~$50.3B | +14%
Downstream EBIT | $3.1B | $10.3B | +234%
Free cash flow | $23.6B | $28.2B | +19.7%
Capital expenditure | $12.6B | $10.5B | -16.7%

:INFO [links:https://www.thenationalnews.com/business/energy/2026/11/03/aramco-posts-34-jump-in-q3-profit-despite-attacks-on-energy-infrastructure/]
What drove the Q3 profit surge
Three forces combined. First, oil prices: Aramco sold crude at $95.20 a barrel in
Q3 2026, up from roughly $70.10 a year earlier, driven by the ongoing Iran-US
conflict disrupting Strait of Hormuz shipping. Second, a one-off divestment gain:
Aramco completed the sale of its equity stake in PRefChem, a Malaysian refining and
petrochemicals joint venture with PETRONAS, booking a significant gain that lifted
reported net profit well above adjusted net income. Third, downstream strength:
refining and chemicals adjusted EBIT surged 234% to $10.3 billion as Middle East
supply disruptions lifted global refining margins. Capital expenditure fell 16.7%
year on year to $10.5 billion, boosting free cash flow to $28.2 billion.

:QUOTE [links:https://thechronicle.com.ph/saudi-aramco-posts-9-growth-in-q3-adjusted-net-income/, quotetype:plain, subtitle:Amin Nasser (Aramco CEO) in Q3 2026 results statement]
Geopolitical instability and attacks targeting key energy infrastructure had
exacerbated global supply security concerns. We continue to explore additional
overseas storage capacity and alternative export routes to strengthen
our global supply network.

:CHECKLIST [links:https://www.aramco.com/en/investors]
What to watch next
[ ] 2026-11-16: Aramco Q3 dividend eligibility (ex-dividend) date for the $21.9 billion base payment.
[ ] 2026-11-25: Q3 base dividend payment date; $21.9 billion distributed to shareholders.
[ ] OPEC+ monthly meeting: seven-country group continues monthly output reviews; next session will set December production levels.
[ ] Q4 2026 results: Aramco expected to report in early February 2027; watch whether oil price holds above $90 and downstream margins sustain.
[ ] Alternative export routes: CEO flagged assessment of East-West Pipeline expansion and overseas storage to reduce Hormuz dependence.
[ ] HUMAIN AI venture: Aramco acquired a 49% stake in AI company HUMAIN for roughly $2.6 billion; watch first operational update.

:NOTE
How we know this. Net profit, adjusted net income, free cash flow, production,
oil price and dividend figures come from Aramco's official Q3 2026 results
published November 3 2026 and reported by Arab News, The National News, Gulf
Business, The Chronicle, and ANews. CEO quote from the Q3 results statement.
Quarterly net profit series from Aramco FY 2025 press release and Saudi Exchange
announcements. Upstream EBIT Q3 2025 is derived from full-year and H1 disclosures;
all other figures are from o

:LINK
https://www.arabnews.com/business/aramcos-q3-net-profit-jumps-345to-363bn-3009542
Arab News: Aramco Q3 net profit jumps 34.5% to $36.3 billion

:LINK
https://www.thenationalnews.com/business/energy/2026/11/03/aramco-posts-34-jump-in-q3-profit-despite-attacks-on-energy-infrastructure/
The National: Aramco posts 34% jump in Q3 profit despite attacks on energy infrastructure

:LINK
https://gulfbusiness.com/en/2026/news/saudi-aramco-q3-2026-profit-surges-35-to-36-3bn-amid-global-energy-disruptions/
Gulf Business: Saudi Aramco Q3 2026 profit surges 35% to $36.3bn amid global energy disruptions