Saudi Aramco reported a 44% year-on-year increase (YoY) in net income for the second quarter (Q2) of 2026, supported by higher crude oil and chemical product prices amid heightened volatility in global energy markets, according to a press release by the company.
The company’s net profit reached $32.69 billion (SAR 122.6 billion) in Q2 2026, up from $22.67 billion (SAR 85.0 billion) in the same quarter of 2025, according to the company’s second-quarter and half-year interim report.
It reported adjusted earnings before interest and taxes (EBIT) of $57.99 billion (SAR 217.5 billion) in Q2 2026, up from $46.69 billion (SAR 175.1 billion) recorded in Q2 2025.
Aramco said the increase was mainly driven by higher revenue and other sales-related income. The company’s sales rose 28% YoY to $139.15 billion (SAR 521.8 billion) in Q2 of 2026.
During the quarter, Aramco raised prices of crude oil and refined products to offset the lower volumes produced and sold partially.
The company’s average realized crude oil price climbed to $108.1 per barrel in Q2 2026, compared with $66.7 per barrel in the same quarter of 2025. Total hydrocarbon production stood at 9.5 million barrels of oil equivalent per day (mmboe/d), down from 12.8 mmboe/d a year earlier.
Aramco has ramped up exports through the East-West Pipeline to the Red Sea port of Yanbu since the US-Israeli war with Iran triggered the biggest disruption in the history of energy markets.
When disruptions occurred in the Bab el-Mandeb Strait, the company sought an alternative route and exported extra crude cargoes through Egypt’s Mediterranean port of Sidi Kerir, after being transported to the Red Sea port of Ain Sokhna and injected via the Suez-Mediterranean (SUMED) Pipeline.
On the gas front, the company continued expanding its business, including the production of gas and condensate from Jafurah field development while continuing procurement and construction activities for its second phase. It is targeted for completion in 2027.
The company expects production from Jafurah to reach a sustainable sales gas rate of 2 billion cubic feet per day (bcf/d) by 2030, in addition to volumes of ethane, natural gas liquids (NGLs) and condensate.
Aramco also continued expanding construction of the Fadhili Gas Plant, with the project expected to add 1.5 bcf/d of raw gas processing capacity, equivalent to about 1.15 bcf/d of additional sales gas production capacity, by 2027.
