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…
Saudi Aramco announced a substantial 33 percent increase in profits for the second quarter of 2026, as the kingdom capitalised on the US-Israeli war against Iran. The surge in energy prices, driven by the conflict, led to an adjusted net income of $33.4 billion, up from $25.2 billion in the same period last year. Key to this success was Saudi Arabia's East-West Pipeline, which bypassed the Strait of Hormuz, enabling the company to export around two-thirds of its pre-war oil capacity.
Aramco CEO Amin Nasser highlighted the pipeline's role in maintaining business continuity despite the supply disruption. The infrastructure, along with storage capacity and export terminals, has become a model for other Middle Eastern states seeking to avoid the Strait of Hormuz. Countries like the UAE and Iraq are investing billions to develop similar bypass projects, aiming to reduce their dependence on the contested waterway.
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