S\u00e3o Paulo \u2013 Saudi Arabia\u2019s oil company, Saudi Aramco, reported net profit of USD 32.5 billion in the first quarter of this year, up 25% from the same period in 2026. According to the company\u2019s financial results released on Sunday (10), revenue rose 7% to USD 115.49 billion during the period.<\/p>\n\n\n\n
The company attributed the performance to resilient operations during a period in which the Gulf was directly affected by the conflict involving Israel and the United States against Iran. Gulf countries, including Saudi Arabia, were targeted by retaliatory attacks from Iran. Tehran also threatened to attack ships in the Strait of Hormuz, through which vessels transport about 20% of the world\u2019s oil and natural gas production.<\/p>\n\n\n\n
Saudi Arabia has ports on the Gulf coast as well as on the Red Sea. It also has the East-West pipeline, which helped the country transport its production and export it through the Red Sea, explained Saudi Aramco President and CEO Amin Hassan Nasser.<\/p>\n\n\n\n
During the quarter, the pipeline operated at its maximum transport capacity, equivalent to seven million barrels of oil per day. According to Nasser, it proved to be a key supply route, providing relief to customers affected by restrictions on the Strait of Hormuz.<\/p>\n\n\n\n
Read more<\/em>: Translated by Guilherme Miranda<\/strong><\/p>\n
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