Aramco Q3 Profit Up Amid Conflicting Reports

Saudi Aramco reported third‑quarter adjusted net income of about 104.9 billion riyals (roughly $28 billion), a small year‑on‑year rise that beat estimates, though Reuters published an alternative figure of about 101.02 billion riyals showing a slight decline. The company raised liquids output to roughly 10.8 million barrels a day and saw gas output growth, with an average realized oil price near $70.1 a barrel, helping results improve from Q2. Free cash flow rose to $23.6 billion and operating cash flow to $36.1 billion, with free cash flow exceeding dividends for the first time in about two years; the board declared a base dividend of about $21.1 billion plus roughly $200–219 million in performance‑linked payouts. Management upgraded its 2030 sales‑gas production capacity target to around 80% above 2021 levels, centering on the Jafurah development and related deals including an $11 billion lease to support gas processing. The company also completed a transaction increasing its stake in Petro Rabigh to roughly 60% and bought a minority stake in AI firm HUMAIN, underscoring strategic shifts toward upstream volumes and gas amid softer global oil prices and OPEC+ output increases.