Saudi Aramco Profit Rises Despite Attacks and Pipeline Disruptions

Saudi Aramco reported a 35% increase in third-quarter net profit, reaching $36.3 billion, boosted by higher oil prices and the sale of a stake in a Malaysian refining and petrochemical company. While adjusted net profit, excluding the sale, rose 9% to $31.2 billion, the company navigated disruptions from attacks on pipelines and refineries, including a September 10th attack on the East-West pipeline.

The profit increase occurred despite attacks by Iranian-backed Houthi rebels in Yemen and disruptions to oil exports. Saudi Aramco utilized its East-West pipeline to the Red Sea port of Yanbu and a U.S.-protected corridor near Oman to maintain exports after the outbreak of the Iran war and subsequent tanker traffic risks. The company sold oil for an average of $95.20 a barrel during the quarter, compared to $70.10 the previous year. High profit margins from refining crude into products like diesel fuel also contributed to the earnings.

The company’s profits are a major source of revenue for the Saudi government, which is investing in economic diversification projects. The increase in profits came after oil prices surged following the outbreak of the Iran war, due to supply disruption and uncertainty.

Background

• Saudi Aramco is the state-owned oil company of Saudi Arabia and a major global oil producer [background knowledge].
• The Houthi rebel group, backed by Iran, has been engaged in conflict with Saudi Arabia and the Yemeni government, conducting attacks on Saudi infrastructure [Fact Refinery, 2026-10-22].
• In late February, a U.S.-Israeli war with Iran began, escalating regional tensions and prompting concerns about oil supply disruptions [Fact Refinery, 2026-09-20].
• Prior to the current conflict, the U.S. had reduced its diplomatic presence in the region following attacks on U.S. facilities, with some personnel recently returning [Fact Refinery, 2026-10-22].
• The East-West pipeline, crucial for Saudi oil exports, has been targeted by attacks, prompting the use of alternative routes [Fact Refinery, 2026-09-17].

Our reading

Our reading is that Saudi Aramco’s increased profits, despite ongoing attacks and disruptions, demonstrate the resilience of the company and the continued high demand for oil. The company’s ability to maintain exports through alternative routes suggests a proactive approach to mitigating risk, while the surge in profits following the outbreak of the Iran war indicates a direct correlation between geopolitical instability and oil prices. The fact that these profits are a major source of revenue for the Saudi government highlights the economic implications of the conflict.

What to watch

• The next meeting between U.S. President Trump and Gulf leaders, to gauge progress on a postwar strategy and potential de-escalation efforts [Fact Refinery, 2026-09-17].
• Oil prices in the coming weeks, to see if they remain elevated or stabilize as the situation in Iran and Yemen evolves [background knowledge].
• Any further attacks on Saudi oil infrastructure or shipping lanes, which would likely indicate an escalation of the conflict and potentially impact global oil supplies [Fact Refinery, 2026-10-22].

Was this useful? 👍 0 👎 0

---

Read the original coverage