{"id":787832,"date":"2026-05-11T02:37:14","date_gmt":"2026-05-11T02:37:14","guid":{"rendered":"https:\/\/www.europesays.com\/us\/787832\/"},"modified":"2026-05-11T02:37:14","modified_gmt":"2026-05-11T02:37:14","slug":"saudi-aramco-profits-jump-despite-conflict-in-middle-east-aramco","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/787832\/","title":{"rendered":"Saudi Aramco profits jump despite conflict in Middle East | Aramco"},"content":{"rendered":"

Saudi Arabia\u2019s state oil company reported a 26% jump in profits in its first quarter as its east-west pipeline allowed it to ship millions of barrels of oil out of the Gulf despite conflict in the Middle East<\/a>.<\/p>\n

Profits at Saudi Aramco<\/a> hit $33.6bn (\u00a326.9bn) in the first three months of the year, while revenue rose nearly 7% compared with a year earlier to $115.5bn.<\/p>\n

The boost in profits came even as Aramco grappled with attacks on its infrastructure<\/a> and a halt to exports through its Gulf ports.<\/p>\n

Amin Nasser, the company\u2019s president and chief executive, said: \u201cOur east-west pipeline, which reached its maximum capacity of 7m barrels of oil per day, has proven itself to be a critical supply artery, helping to mitigate the impact of a global energy shock and providing relief to customers affected by shipping constraints in the strait of Hormuz.\u201d<\/p>\n

The strait, through which about a fifth of the world\u2019s oil and gas supply normally passes, has in effect been closed since the start of the US-Iran war in late February. Aramco\u2019s east-west pipeline allows it to ship oil from its east coast to the Red Sea port of Yanbu.<\/p>\n

Disruption in the strait has triggered a spike in global energy prices, with Brent crude \u2013 the international benchmark \u2013 trading at about $100 a barrel, about 40% higher than before the conflict.<\/p>\n

Nasser, who previously warned that the continued blockade of the strait of Hormuz would be a \u201ccatastrophe<\/a>\u201d for global oil markets, said it would take months for the market to return to normal even if the strait reopened immediately.<\/p>\n

\u201cIf trade flows resume immediately or today through the strait of Hormuz, it will take a few months for the oil market to rebalance,\u201d he wrote in an emailed statement to Bloomberg. \u201cBut if trade and shipping remain curtailed by more than a few weeks from today, we anticipate the supply disruption to persist and the market to normalise only in 2027.\u201d<\/p>\n

His comments come as the US awaits a response from Iran<\/a> to its proposals for an interim deal to end the conflict. In recent days there has been fighting in and around the strait, after Donald Trump\u2019s announcement and then pause of a naval mission aimed at opening the waterway.<\/p>\n

Aramco said it would maintain its quarterly dividend at $21.9bn, after increasing the payout by 3.5% at the end of last year.<\/p>\n

Saudi Arabia relies heavily on Aramco\u2019s dividends to fund domestic spending. The government directly owns more than 80% of the business, while its sovereign investor, the Public Investment Fund, holds 16%.<\/p>\n

Aramco, which is headquartered in Dhahran, Saudi Arabia, employs more than 76,000 people globally and is one of the biggest businesses and oil producers in the world.<\/p>\n","protected":false},"excerpt":{"rendered":"Saudi Arabia\u2019s state oil company reported a 26% jump in profits in its first quarter as its east-west…\n","protected":false},"author":3,"featured_media":787833,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[64,67,132,68],"class_list":{"0":"post-787832","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-business","9":"tag-united-states","10":"tag-unitedstates","11":"tag-us"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/116553622953848541","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/787832","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=787832"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/787832\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/787833"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=787832"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=787832"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=787832"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}