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2026-11-03 19:16:25
[Saudi Aramco's Q3 Profits Surge as CEO Pushes for Export Diversification] ⑴ Saudi Aramco achieved a net profit of $36.3 billion in three months, up approximately 35% year-on-year, despite attacks on its facilities and a halving of traffic in the Strait of Hormuz. ⑵ Excluding one-off factors, adjusted profit was $31.2 billion, an increase of approximately 9%, exceeding market expectations. ⑶ Free cash flow reached $28.2 billion, higher than $23.6 billion in the same period last year. ⑷ Refining and chemical business profits surged by approximately 234%. ⑸ The underlying dividend for the quarter was $21.9 billion. ⑹ The real focus is not on the profits themselves, but on CEO Nasser's strategic plans. ⑺ Nasser is expanding the daily capacity of the East-West pipeline across Saudi Arabia to the Red Sea from 7 million barrels to 10 million barrels. ⑻ The company is also exploring new export routes beyond the Strait of Hormuz, the Bab el-Mandeb Strait, and the Suez Canal. ⑼ On the map, the obvious route is through Oman. (10) The world's largest oil exporter is re-planning its export routes. (11) This move comes against the backdrop of market concerns triggered by Trump's tariff rhetoric, and the uncertainty of the international situation prompting oil-producing countries to examine transportation security. (12) Diversifying export routes may become a long-term strategy for Gulf oil-producing countries to cope with geopolitical risks.
