Overview
- Saudi Aramco said Sunday its net profit for the quarter to March 31 rose to 120 billion riyals after stronger oil prices and sales.
- Total revenue increased to 433.10 billion riyals from 405.65 billion a year earlier as it sold more crude, refined products, and chemicals.
- Exports shifted to Saudi Arabia’s west coast after the Strait of Hormuz was effectively closed on February 28, and the East–West pipeline ran at its 7 million barrels per day limit.
- Aramco said higher operating costs and increased income taxes and zakat partially offset the earnings boost.
- The company declared a first‑quarter base dividend of $21.9 billion, up 3.5% year on year, and guided for $87.6 billion in total dividends for 2026.