Aramco posts 42% jump in second-quarter profit despite supply disruptions
Saudi Aramco reported an annual jump of about 42 per cent in its second-quarter net profit, as the world's largest oil exporter tackled a quarter marked by regional war and repeated attacks on Saudi export infrastructure. Net profit attributable to shareholders of the company for three months to the end of June climbed to 121.5 billion Saudi riyals ($32.4 billion), the company said in a filing on…
Saudi Aramco reported a 42% increase in its second-quarter net profit, reaching 121.5 billion Saudi riyals ($32.4 billion) for the three months ending June. Annual revenue grew 19% to 450.7 billion riyals, driven by higher prices for refined and chemical products and crude oil. Despite supply disruptions caused by regional war and attacks on Saudi infrastructure, the company maintained production and exports, citing its diverse asset base and strategic infrastructure.
Adjusted net income rose to $33.3 billion for the April-June quarter, up from $25 billion in the same period last year. Crude oil prices averaged $108.10 per barrel, up significantly from $66.7 a barrel a year prior and $76.9 a barrel in the previous quarter. Hydrocarbon production averaged 9.46 million barrels of oil equivalent per day, down from 12.61 million barrels in Q1 2026 due to Iran's closure of the Strait of Hormuz.
The quarter followed a resumed regional war and 13 nights of exchanges of strikes between Washington and Tehran, with Iran targeting tankers transiting the strait and declaring a maritime blockade of Saudi ports.
Written by urgent.news from The National UAE's reporting — not their text. Machine-written — it may contain errors, so check the original before relying on it.
