Saudi Arabia's Energy Sector Diversifies Growth Drivers Amid Strong Oil Prices
Saudi Arabia's energy sector has seen a significant shift in its growth drivers, no longer solely dependent on oil price movements. The first half of 2026 saw profits surge 39% to $66.9 billion (SAR 250.9 billion) compared to the same period in 2025.
The sector's combined results show a diversification of performance drivers, with companies listed on the Saudi Exchange benefiting from improved activity in maritime transport, refining, petrochemicals, and energy-related services. This is in addition to the continued financial strength of Saudi Aramco.
Mohamed Hamdy Omar, CEO of G World, attributed the sector's growth to multiple factors, including higher oil, refined product, and chemical prices, improved margins, and increased operational activity in transport and logistics services.