Iran war pushes up Saudi
Photo: Amr Nabil/AP/TT

Iran war pushes up Saudi Aramco profits by 33% in second quarter

Saudi Aramco, the world's largest oil producer, increased its profit by 33 percent in the second quarter of this year compared with the same quarter last year. The result comes after the Iran war pushed oil and gas prices higher.

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The state-owned Saudi Arabian oil producer has been transporting oil from Gulf states' oil fields through its east-west pipeline to ports outside the Strait of Hormuz.

“Despite the unprecedented disruption to supplies through the Strait of Hormuz, we continued to maintain business continuity by leveraging our asset base, including strategic infrastructure such as our East-West Pipeline,” said CEO Amin Nasser.

Aramco sold its oil for around $108 per barrel in the second quarter, compared with $67 a year earlier.

Adjusted net profit rose to $33.4 billion, compared with $25.2 billion in the same period the year before.

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AuthorTT News AgencyEnglish edition by Sweden Herald, adapted for our readers
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