Saudi Aramco posts a 26% year-on-year increase in adjusted net income for Q1, driven by rising crude prices and expanded pipeline capacity.
Saudi Aramco reported a 26% jump in first-quarter adjusted net income to $33.6 billion, as higher crude prices and increased pipeline usage countered disruptions from the Strait of Hormuz crisis.
The result exceeds the prior-year quarter’s $26.7 billion profit and aligns with analyst expectations of a rebound in oil sector earnings. Expanded pipeline capacity helped mitigate supply chain risks during the period.
No immediate market reaction was disclosed in the release.