Politics · Malaysia Bureau
Saudi Aramco reports strong third-quarter profit surge
Saudi Arabia's state oil giant Saudi Aramco has posted a robust 34.6% increase in net profit for the third quarter, underscoring continued strength in global energy markets.
LSN Malaysia ·
The energy producer reported net profit of 135.9 billion riyals (US$36.2 billion) in the July-September period, a significant jump from approximately 101 billion riyals recorded in the same quarter last year.
The substantial earnings growth reflects elevated oil and gas prices, which have remained supported by global demand and supply constraints. Saudi Aramco, which is majority-owned by the Saudi Arabian government, is among the world's largest and most profitable oil companies.
The third-quarter results demonstrate the continued financial resilience of Saudi Arabia's hydrocarbon sector, which remains pivotal to the kingdom's economy and government revenues. The company's performance underscores the ongoing importance of crude oil and gas exports to the region's economic outlook.
Saudi Aramco's strong quarterly earnings come amid broader volatility in international energy markets, though production levels and pricing have generally favoured major oil producers in recent months.