DAHAHRAN — Saudi Aramco’s net income reached SR122 billion in 2026, compared to SR97.5 billion in 2025, according to the company’s Q1 results. Aramco explained that its adjusted net income reached SR126 billion, up from SR99.8 billion in the same period last year. The company noted that cash flow from operating activities stood at SR115.2 billion, compared to SR118.9 billion in 2025, while free cash flow reached SR69.9 billion, compared to SR71.8 billion in the first quarter of last year, impacted by a SR59.1 billion increase in working capital. Gearing reached 4.8 percent as of March 31, 2026, compared to 3.8 percent at the end of 2025, while capital expenditures totaled SR45.4 billion in Q1, supporting the company’s growth objectives. The Board of Directors also confirmed base dividend distributions for the first quarter of 2026 worth SR82.1 billion, marking a 3.5 percent year-on-year increase, to be paid in the second quarter. Aramco further reported that return on average capital employed stood at 20.7 percent during the first quarter of 2026, while the average realized crude oil price reached $76.9 per barrel. President and CEO of Saudi Aramco, Amin H. Nasser, said the company’s first-quarter performance reflected strong operational resilience and a high degree of adaptability in a complex geopolitical environment. He noted that the East-West pipeline, now operating at its full capacity of 7 million barrels of oil per day, had proven a vital artery for uninterrupted oil and other product supplies to markets. It also helped ease the impact of the global energy shock and supported customers affected by shipping restrictions in the Strait of Hormuz. Nasser added that recent events had clearly demonstrated the critical role of oil and gas in energy security and the global economy, underscoring the importance of reliable energy supplies. Despite ongoing challenges, he said Saudi Aramco remains focused on its strategic priorities and continues to leverage its domestic infrastructure and global network to overcome disruptions. According to the company, available domestic and international storage capacity provided additional flexibility, while strategic investments in critical infrastructure and robust contingency plans supported business continuity and helped mitigate disruptions.