Aramco Profit Surges 42% to $32.5 Billion Amid Iran Conflict
Saudi Aramco's second-quarter profit surged by 42% to $32.5 billion, driven by higher oil prices caused by the Iran conflict. The state-backed oil producer maintained its quarterly dividend and ensured business continuity through strategic infrastructure investments.
The company's net profit jumped from SAR122 billion in the first quarter to SAR182 billion in the second quarter, while revenue rose 19% to SAR451 billion compared to the same period last year.
Aramco CEO Amin Nasser attributed the success to the company's diverse asset base and multi-decade planning, which included strategic infrastructure such as the East-West pipeline, storage capacity, and export terminals. The Strait of Hormuz was disrupted by the Iran conflict, but Aramco stayed focused on its long-term priorities.
The average realised crude price rose to $108 per barrel in the second quarter from $66.7 a year earlier. Free cash flow fell to SAR46 billion in the quarter ended June 2026 compared to SAR57 billion a year earlier, due to higher capital expenditure.