Aramco Defies Hormuz Disruptions with Record-High First-Half Profit

Saudi Aramco reported a significant increase in its first-half profit despite disruptions to oil flows through the Strait of Hormuz. The state-owned oil giant's net income attributable to shareholders rose to 241.64 billion Saudi riyals, up from 181.31 billion a year earlier.

The revenue climbed to 883.87 billion riyals from 784.48 billion, primarily driven by higher prices for refined products, chemicals, and crude oil, even though the company sold lower volumes.

Aramco's CEO, Amin Nasser, attributed the success in keeping exports moving during the disruption to relying on backup routes and infrastructure such as the East-West Pipeline, storage, and export terminals.