Saudi Aramco reported a 26% year-on-year increase in first-quarter net profit. The world's largest oil producer earned $33.6 billion during the period.
These results occurred despite a Middle East conflict that closed the Strait of Hormuz. This shipping lane typically handles 20% of global oil and gas supply.
CEO Amin Nasser attributed the performance to operational resilience and strategic infrastructure. Aramco’s East-West Pipeline reached its maximum capacity of 7 million barrels per day. This infrastructure allowed the company to bypass the blockade by exporting crude through the Red Sea port of Yanbu.
Brent crude prices traded near $100 per barrel during the quarter. Oil prices have risen approximately 40% since the conflict began. Nasser emphasized the role of oil and gas in maintaining global energy security during geopolitical instability.