Pins matching place:34464

Aramco and the Public Investment Fund signed a non-binding term sheet for Aramco to take a significant minority stake in HUMAIN, PIF's AI company, with both pooling AI assets, capabilities and talent into it while PIF keeps the majority.

Aramco posted third-quarter adjusted net income of $28.0 billion, up from $27.7 billion a year earlier, and declared a $21.1 billion base dividend plus a $0.2 billion performance-linked payout, the last one owed on 2024's results. It also raised its 2030 sales-gas growth target to about 80% and announced plans to buy a significant minority stake in the AI company HUMAIN.

Aramco priced $4 billion of US dollar bonds in four tranches, from three to 30 years at coupons of 4% to 6%, drawing about $21 billion of orders. It was the company's first bond sale of 2026, listed in London.

Aramco's board approved buying back up to 350 million of its shares, worth at most SAR 11.3 billion ($3 billion), within 18 months of 9 March 2026, to hold in treasury for its employee share plan. It is the company's first buyback; until now it returned cash only through dividends.

Aramco's 2025 net profit fell 12% to SAR 348 billion on lower oil prices, yet it raised its quarterly base dividend 3.5% to $21.89 billion and announced its first-ever share buyback, of up to $3 billion. No performance-linked dividend was declared for 2025.

Aramco's first-quarter adjusted net income jumped to $33.6 billion from $26.6 billion as it ran the East-West Pipeline at its full 7 million barrels a day to export from the Red Sea while the Strait of Hormuz was choked off. The board held the base dividend at $21.9 billion, 3.5% up on a year earlier.

Aramco's second-quarter adjusted net income rose 33% to $33.4 billion as prices surged with the Strait of Hormuz disrupted by the Iran war, while exports kept flowing through the East-West Pipeline. It declared a $21.9 billion base dividend; first-half adjusted profit reached $67.2 billion.

Aramco's third-quarter 2026 results and dividend declaration, estimated for Tuesday 3 November 2026 at about 8 a.m. Riyadh time from its pattern; the company has not announced the day. It will be measured against Q2's $33.4 billion adjusted profit and $21.9 billion base dividend.

Around 4,000 km of new pipelines and 17 compression trains are to add 3.15 billion cubic feet a day to the network that carries gas across Saudi Arabia, built under 15 contracts worth about $8.8 billion.