71 Days
Source:
الاقتصادية
Aramco Positioned to Gain from Oil Boom
The article discussed Saudi Aramco's forecast of benefiting from the expected additional demand for oil following the end of the economic crisis. It highlighted that increased demand will allow for the rebuilding of global inventories, which have reached their lowest levels due to continuous draws. During the second quarter, Aramco reported net profits of 121.5 billion riyals, exceeding analyst expectations. Its profits increased by 41.9% compared to the same period in 2024, with revenues rising by 19%. Officials indicated that the market losses in the oil sector due to the crisis are estimated at around 11 million barrels per day. They also mentioned that restoring navigation through the Strait of Hormuz could take approximately 18 months to replenish the depleted inventories, despite the company's reliance on alternative export routes during the crisis. Aramco affirmed that it achieved the highest return on investment in the oil sector at 22%, and its debt ratio decreased to 6.2%.
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