Saudi Aramco delivered a strong first-quarter performance for 2026, reporting adjusted net income of USD 33.6 billion – a 26% year-on-year rise from USD 26.6 billion and a 34% jump on the prior quarter's USD 25.1 billion. The result surpassed the median analyst forecast of USD 31.2 billion by nearly USD 2.4 billion.
The standout operational story was the East-West Pipeline, which reached its maximum capacity of 7.0 million barrels per day during Q1, providing a critical alternative export route as the Strait of Hormuz remained severely disrupted. Despite refining and processing interruptions, Aramco maintained a supply reliability rate of 96.3%.
Operating cash flow reached USD 30.7 billion, while free cash flow came in at USD 18.6 billion, with capital expenditure of USD 12.1 billion supporting growth objectives. The board declared a Q1 base dividend of USD 21.9 billion, up 3.5% year-on-year, payable in Q2.
Gulf Economist Staff Writer