Saudi Aramco’s Adjusted Profit Jumps 33% as Oil Prices Surge

Saudi Aramco's adjusted net income surged by 33% in the second quarter, reaching $33.385 billion compared to $25.19 billion in the same period last year. The increase was primarily driven by high oil prices and the company's ability to divert most crude exports, despite disruptions at the Strait of Hormuz. The state-owned Aramco reported an average realized crude oil price of $108.1 per barrel for April to June, up from $76.9 per barrel in the first quarter of 2026.

This significant rise compared to the previous quarters was attributed to Brent oil prices averaging $97 a barrel during the same period. In terms of dividends, Aramco maintained its Q2 2026 base dividend of $21.9 billion, to be distributed in the third quarter, with the majority going to the Kingdom of Saudi Arabia. Despite the challenges posed by the constraints in the Strait of Hormuz, the oil giant's diverse asset base, including strategic infrastructure like the East-West Pipeline, storage capacity, and export terminals, helped sustain production and exports, enabling the company to advance key projects.

President and CEO Amin Nasser attributed this resilience to Aramco's long-term planning and strategic domestic and international infrastructure. The company rerouted its crude oil exports to the Red Sea port of Yanbu to bypass the Strait of Hormuz, but faced new challenges when the Iran-aligned Houthis threatened to block shipments in the Red Sea and Bab el-Mandeb Strait.

This led to dark transits through Bab el-Mandeb and re-routing of oil exports northward to Egypt and the Suez Canal.