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Saudi Aramco Q1 profit jumps 26% as key pipeline reaches capacity amid Iran war
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- Saudi Aramco reported a 26% year-on-year jump in first-quarter profits on Sunday, beating analyst forecasts, as a key pipeline allowing it to circumvent the choked-off Strait of Hormuz reached full capacity.
- Adjusted net income for Q1 2026 stood at $33.6 billion, compared with $26.6 billion in the same period last year, the Saudi Arabian energy giant told CNBC in a statement.
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Saudi Aramco reported a 26% year-on-year jump in first-quarter profits on Sunday, beating analyst forecasts, as a key pipeline allowing it to circumvent the choked-off Strait of Hormuz reached full capacity.
Adjusted net income for Q1 2026 stood at $33.6 billion, compared with $26.6 billion in the same period last year, the Saudi Arabian energy giant told CNBC in a statement. The Q1 figure was a 34% increase on the $25.1 billion profit in the previous quarter.
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