Business · Companies · 15 hrs ago
Aramco profits rose as Saudi oil revenue fell
Saudi Aramco’s net income rose 34.2% in the first nine months of 2026, reaching 380.6 billion riyals.
Over the same period, Saudi government oil revenue fell 1.3% to 446.3 billion riyals, and it dropped 23% in the third quarter alone.
The figures can move in different directions because company profits and government revenue are measured differently and may be recorded at different times.
The government receives money from Aramco through taxes, royalties and dividend payments, as well as other financial adjustments.
Meanwhile, non-oil government revenue rose 8% in the first nine months, helping lift total budget revenue by 3% to 858.9 billion riyals.
The third-quarter budget still ran a deficit of 84.3 billion riyals, as spending exceeded revenue.
The figures show why Aramco’s profit growth does not by itself mean the government collected more oil revenue during the same period.
Aramco’s net income rose 34.2% in the first nine months of 2026, while Saudi government oil revenue fell 1.3%.
The figures were reported on the same day, but they measure different things and do not show a direct link between company profits and government revenue.
Aramco’s net income reached 380.6 billion riyals, while government oil revenue was 446.3 billion riyals.
In the third quarter, government oil revenue fell 23% year on year to 116.5 billion riyals.
Higher non-oil revenue helped lift total government revenue by 3% in the first nine months to 858.9 billion riyals.
- Who
- Saudi Aramco and the Saudi government.
- What
- Aramco’s net income rose while government oil revenue fell. The figures reflect different accounting and collection measures.
- When
- The first nine months of 2026, including the third quarter.
- Where
- Saudi Arabia.
- Why
- The figures differ because company profits and government revenue are recorded on different bases and at different times, and the government receives funds through several channels.
This story does not have two clearly opposing sides.
Saudi government oil revenue was 452.4 billion riyals, compared with 446.3 billion riyals in the first nine months of 2026.
Aramco’s net income rose to 380.6 billion riyals, up 34.2% from the same period a year earlier.
Government oil revenue fell 23% year on year to 116.5 billion riyals.
Aramco’s financial results and the government’s third-quarter budget performance report were published on the same day.
- Aramco net income
- 380.6 billion riyals in the first nine months of 2026
- Aramco net income growth
- 34.2% year on year
- Government oil revenue
- 446.3 billion riyals in the first nine months of 2026
- Third-quarter government oil revenue
- 116.5 billion riyals, down 23% year on year
- Total government revenue
- 858.9 billion riyals in the first nine months of 2026, up 3%