Saudi Aramco reports bumper profits as it bypasses Strait of Hormuz

Saudi Aramco reports bumper profits as it bypasses Strait of Hormuz Submitted by Sean Mathews on Tue, 08/04/2026 - 21:09 East-West pipeline has been a model for states from the UAE to Syria looking to get around Iran's chokehold of waterway Aramco chief executive Amin Nasser speaks during the annual Future Investment Initiative conference in Riyadh, Saudi Arabia, on October 29, 2024 (Fayez Nureldine/AFP) Off Saudi Aramco said on Tuesday its profits surged 33 percent in the second quarter of this year, as the kingdom benefited from the US-Israeli war on Iran , which drove up energy prices, while its oil pipeline allowed it to bypass the Strait of Hormuz. The state-owned Saudi Arabian oil giant’s adjusted net income rose to $33. 4bn from $25.