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Saudi Aramco announced its second quarter and first half 2026 financial results on August 4. The company’s statement reported adjusted net income of $33.4 billion for the quarter alongside $67.2 billion for the six month period. Cash flow from operating activities stood at $25.4 billion in the second quarter and $56.2 billion for the first half according to the announcement. Free cash flow reached $12.3 billion in the quarter after a $13.6 billion working capital build and totaled $30.9 billion for the first half the interim report showed. The gearing ratio stood at 6.2 percent as of June 30 compared with 4.8 percent at the end of the first quarter per the company’s figures.
The board declared a base dividend of $21.9 billion for the second quarter to be paid in the third quarter Aramco said in the announcement. This distribution aligns with the first quarter dividend of the same amount that the company had set in May. Aramco’s investor overview noted the quarterly base dividend rose 3.5 percent year on year. The results followed an adjusted net income of $33.6 billion in the first quarter that Aramco detailed in its earlier May release. Such consistency underscores the producer’s ability to generate earnings across varying market conditions the statement indicated.
Aramco attributed its performance to operational agility despite an unprecedented supply disruption through the Strait of Hormuz. The company said it sustained production and exports by capitalizing on its diverse asset base including the East West Pipeline storage capacity and export terminals. This infrastructure enabled business continuity while key projects advanced the announcement stated. The producer reinforced its position by responding swiftly to short term market dynamics according to the release.
President and Chief Executive Officer Amin H. Nasser said “We have entered the second half of the year with solid financial and operating momentum with one of the strongest balance sheets in the sector sustainable and progressive base dividend distributions and a clear focus on our strategic growth objectives.” He added “Even through periods of uncertainty Aramco has stayed anchored to its long term priorities.” Nasser continued “Our disciplined execution combined with our lower cost and higher reliability operations has supported our profitability.”
The announcement confirmed that the Zuluf crude oil increment and Fadhili Gas Plant expansion remain on track for completion in 2026 and 2027 respectively. Phase one of the Jafurah Gas Plant maintained steady production of sales gas and condensate while phase two procurement and construction activities proceed toward an expected 2027 finish Aramco reported. The company also reached an agreement to sell all of its equity interest in PRefChem which supports strategic optimization of the downstream portfolio the statement said.
