Saudi Aramco reported a 9% increase in third-quarter profit, driven by higher oil prices amid the ongoing Iran war and stronger earnings from its refineries. The company's adjusted net income rose to $31.2 billion, up from $28.6 billion a year earlier, surpassing analysts' estimates of $28.7 billion.
The boost in profit highlights the impact of geopolitical tensions on global energy markets, as the conflict in Iran has pushed oil prices higher. Aramco maintained its base dividend at $21.9 billion, a crucial payout for Saudi Arabia's public finances.
The results reflect the company's resilience in a volatile market, with refinery earnings contributing significantly to the uptick. The dividend payout remains a key focus for investors and the Saudi government, which relies on Aramco's performance to support national economic stability.