Saudi Aramco’s profits increased by 25% during the first quarter of 2026

Oil giant Saudi Aramco said on Sunday that it recorded a 25% increase in its net profits in the first quarter, mainly due to higher sales as pumping through the East-West oil pipeline, which bypasses the Strait of Hormuz, reached its maximum capacity.

Aramco, the world’s largest oil exporter, announced net profits amounting to $32.5 billion in the three months ending March 31, exceeding the London Stock Exchange Group’s estimate of $30.95 billion.

Total revenues increased seven percent compared to the same period of the previous year to $115.49 billion, due to higher prices and quantities sold of crude oil, refined products, and chemicals.

The Strait of Hormuz remained closed after the war began, disrupting energy supplies and leading to a sharp increase in oil prices. This prompted Aramco to increase the flow of crude from a main production center on its eastern coast to the port of Yanbu on the Red Sea.

Aramco CEO Amin Nasser said the results reflect “strong operational flexibility and great ability to adapt in a complex geopolitical environment.”

Al-Nasser added in a statement announcing the company’s results, “The East-West pipeline, which has become operating at its maximum capacity of seven million barrels of oil per day, has proven to be a vital artery to ensure the continued supply of oil and other products to the markets, as it helped mitigate the effects of the energy shock that the world is witnessing, and contributed to providing support to customers affected by shipping restrictions in the Strait of Hormuz.” He continued, saying: “Recent events clearly demonstrated the vital contribution of oil and gas to energy security and the global economy, and this represents a clear reminder of the importance of the availability of energy supplies.” “Reliable.”

The East-West pipeline could supply refineries on the western coast of Saudi Arabia with about two million barrels per day of oil, leaving five million barrels per day for export.

During the war, Saudi Arabia reduced production by two million barrels per day after closing the strait. The line carries Arab Light and Arab Very Light crude, which limits the quantities of heavier raw materials.

Adjusted net income for the first quarter was $33.6 billion, exceeding the company’s average estimate from 13 analysts of $31.16 billion.

This figure excludes non-operating accounting items of $1.06 billion, primarily related to changes in inventory replacement costs and certain financing expenses.

Capital expenditures decreased slightly to $12.1 billion during the quarter compared to $12.5 billion in the same period of the previous year, and a sharp decline from $13.4 billion in the fourth quarter. Aramco expected capital spending of between $50 and $55 billion this year.