Aramco Profit Soars 42% on Higher Oil Prices

Saudi Aramco's second-quarter profit surged by 42% to $32.5 billion, largely driven by higher oil prices.

The state-backed oil producer maintained its quarterly dividend at $22 billion, bringing the total payout for the first six months of this year to $44 billion.

CEO Amin Nasser attributed the company's resilience to its diverse asset base and multi-decade planning strategy, which allowed it to capitalize on strategic infrastructure such as pipelines, storage capacity, and export terminals during periods of uncertainty.