Aramco's Resilience Pays Off as Profit Rises to $31.2 Bn, East-West Pipeline Expansion Advances
Saudi Aramco turned a turbulent third quarter into stronger earnings, defying war-related disruptions to energy markets, production facilities and export routes as higher oil prices, a surge in refining margins and operational flexibility helped lift profits. The Saudi oil giant's adjusted net income rose 9% year-on-year to 117 billion riyals ($31.2 billion), beating analysts' forecasts of $28.7 billion. Free cash flow jumped 20%, allowing Aramco to maintain its base dividend and raise it by 3.5% to 82.07 billion riyals ($21.89 billion).
