Saudi Aramco profits soar in second quarter as Iran war squeezes oil supply
The company said higher oil prices and rerouted exports offset disruptions, while adjusted net income topped analyst forecasts by about $2.2 billion.
- Saudi Aramco reported a 33% increase in second-quarter profit to $33.4 billion, exceeding the combined earnings of ExxonMobil Holdings Corp. and Chevron Corp. amid a war-driven surge in oil prices.
- Executive Officer Amin Nasser confirmed that July attacks on assets caused no material operational impact, with Aramco maintaining full production capacity of 12 million barrels a day.
- Since the Iran war began, Aramco has diverted significant export volumes to the western port of Yanbu due to persistent disruptions at the Strait of Hormuz.
- Threats from Yemen's Houthi militant group regarding Saudi exports in the Red Sea have not impacted export volumes, Nasser said, as the kingdom develops contingency plans.
- Aramco is exploring infrastructure upgrades, including potentially enlarging the east-west pipeline, to ensure the company remains ready for future export requirements.
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61 Articles
Saudi Aramco reported a strong second-quarter performance amid the supply crisis in the Strait of Hormuz and the Iran war. Adjusted net income rose 33% year-on-year to $33.4 billion. The East-West Pipeline played a key role in keeping oil exports running amid the Strait of Hormuz.
Saudi Aramco reports bumper profits as it bypasses Strait of Hormuz
Saudi Aramco reports bumper profits as it bypasses Strait of Hormuz Submitted by Sean Mathews on Tue, 08/04/2026 - 21:09 The East-West Pipeline has been a model for states from the UAE to Syria looking to get around Iran's leverage on the waterway Aramco chief executive Amin Nasser speaks during the annual Future Investment Initiative conference in Riyadh, Saudi Arabia, on 29 October 2024 (Fayez Nureldine/AFP) Off Saudi Aramco said on Tuesda…
DECRYPTAGE - The Saudi oil producer recorded a 44 per cent increase in profits in the second quarter, taking advantage of the pipeline that crosses the country from east to west.
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