Oil giant Aramco’s profits soar 44% as war boosts prices
RIYADH - Oil giant Saudi Aramco yesterday reported a 44 percent surge in net profits after the Middle East war sent energy prices soaring. Aramco, the world’s
International
2026-08-052026-08-05By Correspondent
RIYADH – Oil giant Saudi Aramco yesterday reported a 44 percent surge in net profits after the Middle East war sent energy prices soaring. Aramco, the world’s biggest oil exporter and engine of the Saudi economy, is the latest in a string of energy giants to report bumper profits as the war roils markets.
Its net income of 122.6 billion Saudi riyals (US$32.7 billion) from April to June was up from 85 billion riyals a year prior, a quarterly statement said.
Aramco’s profits came despite Iran’s blockade of the Strait of Hormuz, the key conduit for Gulf oil, and attacks on Saudi ships in the Red Sea by Yemen’s Houthi rebels.
