Saudi Aramco Q3 profit jumps 34.5% to $36.25 billion despite ongoing US-Iran conflict

Higher crude prices help Saudi Aramco cushion the impact of production disruptions and rising security risks.

The world's largest oil exporter posted net profit of $36.25 billion for the three months ended September 30, compared with $26.9 billion in the same period last year. This was also higher than the $32.7 billion recorded in the second quarter.

Adjusted net income stood at approximately $31.2 billion, beating the median analyst estimate of $30.66 billion, based on a consensus shared by Aramco from 12 analysts.

Higher oil prices helped offset the impact of reduced production volumes caused by the US-Iran war. The conflict has disrupted Aramco's output while increasing security risks for Saudi Arabia's energy infrastructure.

Reuters reported that Aramco has continued exporting crude through its eastern terminals in the Gulf and western terminals along the Red Sea. The company has increasingly relied on its East-West pipeline to transport crude from eastern oilfields to the Red Sea, reducing its dependence on Gulf shipping routes.

The pipeline ramped up flows after the conflict began in late February, following US and Israeli strikes on Iran. However, it has faced several attacks during the conflict. Aramco CEO Amin Nasser has described the pipeline as a critical lifeline for maintaining the country's oil exports.

Other Saudi energy infrastructure and Aramco's headquarters have also come under attack as fighting intensified in the wider regional conflict involving Yemen's Iran-aligned Houthi group.

The latest results highlight how higher crude prices have helped Aramco cushion the financial impact of production disruptions and mounting security risks.