Saudi Aramco reported a sharp rise in second-quarter profit, driven by severe supply disruptions through the Strait of Hormuz amid the escalating Middle East conflict. The world’s largest oil company posted adjusted net income of 125.2 billion Saudi riyal ($33.4 billion) for the April to June period, beating analyst expectations of $31.59 billion. To sustain exports at maximum capacity of 7 million barrels per day, Aramco leveraged its 1,200-kilometer East-West pipeline to the Red Sea, bypassing the Strait of Hormuz. Operating cash flow came in at $25.4 billion and the board approved a base dividend of $21.9 billion to be paid over the next three months.
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