Aramco announces second quarter and half year 2026 results

• Adjusted net income¹: $33.4 billion (Q2) / $67.2 billion (H1)
• Cash flow from operating activities: $25.4 billion (Q2) / $56.2 billion (H1)
• Free cash flow¹: $12.3 billion (Q2) / $30.9 billion (H1), with Q2 2026 free cash flow impacted by $13.6 billion² of working capital build
• Gearing ratio¹: 6.2% as at June 30, 2026, compared to 4.8% as at March 31, 2026
• Board declares Q2 2026 base dividend of $21.9 billion to be paid in the third quarter
• Continued utilization of East-West Pipeline to secure flows across the network 
• Zuluf crude oil increment and Fadhili Gas Plant expansion on track for completion in 2026 and 2027, respectively
  Phase one of the Jafurah Gas Plant maintained steady production of sales gas and condensate, and phase two continued with procurement and construction activities, with an expected completion in 2027
• Agreement to sell all of Aramco’s equity interest in PRefChem supports strategic downstream portfolio optimization

"Aramco's first-half performance in 2026 has been defined by the remarkable resilience of our people and the agility of our business and operations to withstand and respond to rapidly changing market conditions. Despite the unprecedented supply disruption through the Strait of Hormuz, we continued to demonstrate our ability to maintain business continuity by capitalizing on our diverse asset base and multi-decade planning, including strategic infrastructure such as the East-West Pipeline, storage capacity, and export terminals. That enabled us to sustain production and exports while advancing key projects, despite the challenging regional environment.

“With geopolitical uncertainty and declining global inventories, the importance of both energy security and energy addition has never been clearer. Our role in swiftly responding to short-term market dynamics, coupled with our ability to ramp up production and focus on strategic investment and technology deployment, reinforce our continued position in the global economy.

“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. Even through periods of uncertainty, Aramco has stayed anchored to its long-term priorities. Our disciplined execution, combined with our lower-cost and higher-reliability operations, has supported our profitability.” 

For more information, please see the 2026 Aramco Second Quarter and Half-Year Interim Report.

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