en.Wedoany.com Reported - Saudi Aramco reported on Tuesday that its adjusted net profit for the second quarter reached $33.385 billion, a 33% increase year-on-year. The performance growth was driven by higher oil prices, and the company also offset the impact of restricted passage through the Strait of Hormuz by diverting the majority of its crude oil exports.
This result exceeded analysts' expectations of approximately $31 billion, compared to a net profit of $25.19 billion in the same period of 2025.
From April to June, Saudi Aramco's average realized crude oil price was $108.1 per barrel, while the average Brent crude price during the same period was $97 per barrel. In comparison, the company's average realized oil price in the first quarter of this year was $76.9 per barrel, and $66.7 per barrel in the second quarter of 2025.
Aramco maintained its base dividend for the second quarter of 2026 at $21.9 billion, which will be paid to shareholders in the third quarter, with the majority being the Kingdom of Saudi Arabia.
President and Chief Executive Officer Amin Nasser stated that despite severe disruptions to crude oil flows in the second quarter, the company benefited from its diversified asset base, including strategic infrastructure such as the East-West Pipeline, storage facilities, and export terminals. Nasser said: "Despite the challenging regional environment, this enabled us to maintain production and exports while advancing key projects."
Executive Vice President and Chief Financial Officer Ziad Al-Murshed stated: "Our resilience stems from decades of long-term planning, as well as our domestic and international strategic infrastructure that provides us with flexibility and optionality."
To avoid passage restrictions through the Strait of Hormuz, Saudi Aramco has diverted its crude oil exports to the Red Sea port of Yanbu. Two weeks ago, this alternative route encountered new challenges: the Iran-aligned Houthis threatened to block Red Sea and Bab el-Mandeb shipping linked to Saudi Arabia, forcing vessels to transit the Bab el-Mandeb Strait using dark transits, while oil exports were redirected northward to Egypt and the Suez Canal.
