According to the company, net profit for the quarter ended March 31 stood at $32.5 billion, exceeding market expectations. Revenue also rose by nearly 7% year-on-year to $115.49 billion, driven by higher crude oil prices and increased sales of petroleum and chemical products.
The report noted that Iran’s restrictions on maritime movement in the Strait of Hormuz disrupted global energy supplies, pushing oil prices higher. In response, Aramco operated its East-West crude oil pipeline at full capacity, ensuring stable supply flows.
CEO Amin Nasser said the pipeline, with a capacity of 7 million barrels per day, played a crucial role in mitigating the global energy shock. He added that reliable energy supply remains essential for global economic stability.
The pipeline can deliver around 2 million barrels per day to refineries on Saudi Arabia’s west coast, while the remaining volumes are exported.
Read More: Pakistan Receives $3.53 Billion in Remittances in April Despite Monthly Decline
During the period, Saudi Arabia reportedly reduced output by 2 million barrels per day due to disruptions in the Strait of Hormuz, which previously handled nearly one-fifth of global oil shipments.
Aramco also announced a first-quarter base dividend of $21.9 billion, up 3.5% year-on-year. The Saudi government remains the company’s largest shareholder and relies heavily on its payouts to support national spending and fiscal stability.
