pakistan
Aramco Q1 profit jumps 25% as Hormuz risks push pipeline to full capacity
Key takeaways
- The world’s top oil exporter (2222.SE), earned a net profit of $32.5 billion in the three months ended March 31, beating an LSEG consensus estimate of $30.95 billion.
- Total revenue surged nearly 7% from a year earlier to $115.49 billion due to higher prices and volumes sold of both crude oil and refined and chemical products.
- The pipeline can supply about 2 million bpd to refineries on Saudi Arabia’s west coast, leaving 5 million bpd for export.
Why this matters: local context for readers following news across Pakistan and the region.
Add ARY News on Google AAResize DUBAI: Saudi Aramco reported a 25% jump in first-quarter profit on Sunday, showing its resilience as U.S.-Iran war tensions curtail Strait of Hormuz shipping, with the state oil giant’s East-West crude pipeline running at full capacity to mitigate the impact to supplies.
The world’s top oil exporter (2222.SE), earned a net profit of $32.5 billion in the three months ended March 31, beating an LSEG consensus estimate of $30.95 billion.
Total revenue surged nearly 7% from a year earlier to $115.49 billion due to higher prices and volumes sold of both crude oil and refined and chemical products.
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