Saudi Aramco, the Kingdom’s global energy giant, has announced its capital investment guidance for 2026, setting a range of $50 to $55 billion. This significant allocation is earmarked for the continued development of its extensive upstream and downstream projects, signaling a robust growth strategy for the coming years.
A Look Back at 2025 Investments
The guidance for 2026 follows a substantial investment year in 2025, where capital expenditure reached $52.2 billion. This figure was in line with previous guidance, though it represented a slight decrease of $1 billion compared to the previous year, according to the company’s latest financial statement.
Upstream and Downstream Capex Breakdown
In 2025, upstream capital expenditure amounted to SAR 142 billion, a decrease from SAR 147 billion in 2024.
Conversely, downstream capex saw a significant 12.4% year-on-year increase, rising to SAR 43.8 billion. This growth was propelled by major progress on key capital projects, including the construction of a refinery-integrated petrochemical steam cracker by S-OIL and the Amiral expansion at the SATORP refinery.
Recent Operational Milestones
This forward-looking investment plan is supported by recent operational achievements. Last month, Aramco announced the start of production at Jafurah, the largest liquids-rich shale gas play in the Middle East. The company also commenced operations at its Tanajib Gas Plant, further strengthening its production capacity.
About Saudi Aramco
Saudi Aramco is one of the world’s leading integrated energy and chemicals companies. It produces approximately one in every eight barrels of the world’s oil supply and develops new energy and chemical technologies. The company is driven by the core belief that energy is opportunity and is committed to making a positive impact and creating long-term value for its shareholders.
Source: Zawya
