Aramco ops flexible to handle disruption; demand to grow in 2026: CEO

Saudi Aramco President and CEO Amin Nasser said the oil giant has significant operational resilience and advanced contingency plans that enable addressing any potential disruption and ensure reliable supplies to its customers in spite of geopolitical developments.

Commenting on Aramco's latest financial results, Nasser added that global oil demand exceeded 106 million barrels per day (bpd) in 2025, hitting an all-time high, with demand expected to grow between 1.1 and 1.4 million bpd in 2026.

Markets are becoming tighter as global inventories fall to their lowest levels in five years, coupled with a decline in global surplus production capacity, said the top executive, pointing out that weak investment in new supplies could lead to continued supply tightness in the future.

Nasser also emphasized that employee safety and operational continuity remain a top priority for the company under the current circumstances.

The company delivered stable operational performance in its key growth projects during 2025, recording profits among the highest in the energy sector while increasing shareholder returns and achieving strong safety performance. It achieved the lowest recordable injury rate since its initial public offering (IPO) on Tadawul, he added The top executive indicated that adjusted net income reached about $105 billion in 2025, while cash flow from operations totaled around $136 billion, despite oil prices declining by about $11 per barrel in 2025 versus 2024.

Nasser explained that liquids production in Q4 2025 reached around 11.1 million bpd, nearly one million bpd higher than the same period in 2024, reflecting the company’s operational flexibility. He underlined that the downstream segment witnessed record operational readiness and processing volumes in 2025.

Meanwhile, Aramco’s capital investments amounted to about $52 billion in 2025, down $1 billion from a year earlier. The company expects capital expenditure in 2026 to range between $50 billion and $55 billion, he added.

According to the CEO, Aramco currently has spare production capacity of about two million bpd, giving it significant flexibility to respond to rising global demand.

He explained that each increase of one million bpd in production could generate between $10 billion and $11 billion in operating cash flow, based on average prices recorded in 2025.

Nasser also emphasized that the company could increase oil production within a few days when needed, highlighting Aramco’s ability to respond quickly to market changes thanks to its surplus capacity.

The company can rapidly restart wells, when necessary, said the CEO, noting that production cuts in some fields are usually implemented by reducing well flow rather than shutting wells completely, allowing production to be restored to higher levels within a brief period.

Nasser also highlighted that Aramco could redirect its oil exports to the Kingdom’s west coast via the East-West pipeline, which has a capacity of about seven million bpd. “Around two million bpd of this capacity is used to supply refineries in Western Province, while the remainder is available for export to global markets,” he said.

He further stated that Aramco maintains oil inventories inside Saudi Arabia and in several locations worldwide, including Asia, the Mediterranean, and Northwestern Europe, thus providing additional flexibility to meet customer demand in case of supply disruptions.

According to Argaam's data, Aramco's profit fell 12% to SAR 348.04 billion at the end of 2025, from SAR 393.89 billion recorded a year earlier. The fourth-quarter profit reached SAR 69.5 billion, down 20% year-on-year.