HeadlinesBriefing favicon HeadlinesBriefing.com

Saudi Aramco Q2 Profit Jumps 33% Amid Iran War Oil Disruptions

New York Times Top Stories •
×

Saudi Aramco reported a 33% year-on-year increase in second-quarter profit, posting adjusted net income of 125.2 billion Saudi riyal ($33.4 billion) for the April-June period, exceeding analyst expectations. The surge followed heightened oil prices amid the Iran conflict, which disrupted supplies through the Strait of Hormuz. To maintain exports, Aramco leveraged its 1,200-kilometer East-West pipeline, sustaining 7 million barrels per day capacity.

Cash flow from operating activities reached $25.4 billion, with a gearing ratio of 6.2% at quarter-end. The company announced a $21.9 billion base dividend for Q2. Aramco attributed the profit increase primarily to higher prices for crude oil and refined products, despite lower sales volumes.

CEO Amin H. Nasser emphasized the company's strategic infrastructure enabled sustained production and exports. Saudi Aramco utilized its pipeline network to bypass Strait of Hormuz disruptions while advancing key projects amid the regional crisis.