Saudi Aramco Sets New Capital Investment Guidance

Saudi Aramco has set its capital investment guidance at $50 to $55 billion for 2026 as it continues developing its upstream and downstream projects.

Capital investment reached $52.2 billion in 2025, in line with guidance but $1 billion lower year on year, the oil major said in its latest financial statement on Tuesday.

Upstream capital expenditure (capex) reached SAR142 billion in 2025, compared to SAR147 billion in 2024.

Meanwhile, downstream capex rose 12.4 percent year-on-year to SAR 43.8 billion last year, driven by progress on capital projects such as the construction of the refinery-integrated petrochemical steam cracker by S-OIL, the Amiral expansion at the SATORP refinery and other projects.

Last month, Aramco had announced the start of production at Jafurah,  the Middle East’s largest liquids-rich shale gas play , and the commencement of operations at Tanajib Gas Plant.

(Editing by Anoop Menon) ([email protected])

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