20 Hrs
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الاقتصادية
Aramco Profits Rise 42 Percent
Saudi Aramco achieved record profits that surpassed analyst expectations in the second quarter of 2026, reaching 121.5 billion riyals, a 42% increase year-over-year. This was driven by rising revenues, which grew by 19% to reach 450.77 billion riyals, as a result of higher prices for refined products, chemicals, and crude oil. The improved pricing environment led to the highest quarterly revenues in the past four years, with the average realized oil price rising to $108.1 per barrel—a 62% annual increase. The company also announced dividend distributions of 82 billion riyals, a 2% increase compared to the previous year, with a dividend yield of 5%, higher than the market average of 3.5%. Analysts expect continued positive performance of the stock, with a target price averaging 30.45 riyals, supported by improving global prices, especially after the average Brent crude price rose to $97 during the quarter.
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