Saudi Aramco reports a first-quarter net profit increase of about 25-26% year on year, with most outlets linking the result to higher crude oil and refined fuel prices following conflict-related market disruptions. Bloomberg and Business Standard say profit exceeds analysts’ expectations, attributing the beat to a war-driven rise in oil and refined fuel prices, alongside strength in chemical product earnings. The Guardian places the increase at 26%, reporting net profit of $33.6 billion and revenue up nearly 7% to $115.5 billion. Multiple other outlets cite the same broadly stated profit growth of 25.5% (Daily Sabah, Al-Monitor, Independent) and similar net income figures (Free Malaysia Today). Several reports also describe operational steps that help shipments despite disruptions to regional routes, including use of an east-west pipeline and shifting exports away from the Strait of Hormuz after restrictions tied to the conflict. Al-Monitor and Courthouse News mention uncertainty over the conflict’s trajectory and references to passage constraints through the Strait of Hormuz, which add pressure to energy logistics and pricing. Overall, the coverage consistently highlights higher commodity prices and export-routing adjustments as the main drivers of the improved quarterly result.
Saudi Aramco reports Q1 profit up about 25-26% as oil prices rise amid regional conflict
Saudi Aramco reports a first-quarter net profit increase of about 25-26% year on year, with most outlets linking the result to higher crude oil and refined fuel prices following conflict-related marke...
- Saudi Aramco reports first-quarter net profit up about 25-26% year on year (roughly 25.5-26%).
- Most coverage links the increase to higher crude oil and refined fuel prices after regional conflict raises energy prices.
- Several outlets say results beat market expectations.
- Reports cite operational efforts to maintain exports despite disruptions, including shifting shipments away from the Strait of Hormuz and using pipelines.
- Some outlets also report revenue rising year on year (The Guardian cites nearly 7% higher revenue).
Saudi Aramco has reported a 26 percent jump in first-quarter profit thanks to higher oil prices, a positive sign for Saudi Arabia’s finances as the country grapples with damage to energy infrastructure and a knock to oil exports through the Strait of Hormuz. In an earnings statement Sunday, Aramco said it had “sharply ramped up” … The post Saudi’s Arabia’s oil giant gets boost from higher crude prices appeared first on Egypt Independent.
2 months agoOn Sunday, the price of Brent crude, the international standard, rose 2.58% to to $103.91 per barrel.
2 months agoAramco, the world’s largest oil company, has reported a 25 per cent jump in first-quarter profits
2 months agoSaudi Arabia’s state oil company’s profits up 26% to £26.9bn in first three months of yearBusiness live – latest updatesSaudi Arabia’s 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.Profits at Saudi Aramco hit $33.6bn (£26.9bn) in the first three months of the year, while revenue rose nearly 7% compared with a year earlier to $115.5bn. Continue reading...
2 months agoSaudi oil giant Aramco said Sunday its net profit rose by 25.5 percent in the first quarter compared to the same period last year, after the Middle East war sent oil and gas prices soaring.The result comes as uncertainty plagues global markets over the conflict's trajectory, with Iran restricting the passage of hydrocarbons through the strategic Strait of Hormuz.
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