Aramco Q2 profits rise 42% to 121.5B riyals
Saudi Aramco achieved record profits of 121.5 billion riyals in the second quarter, a 42% increase compared to the same period last year, surpassing Bloomberg analysts’ expectations of around 115 billion riyals. This rise was driven by higher revenues and income from sales, with the company reaffirming that its diverse assets and infrastructure capabilities can sustain ongoing production and export efforts, despite targeted disruptions at some facilities during the quarter. CEO Amin Nasser explained that Aramco is committed to executing its core projects and maintaining its financial and operational resilience in the second half of the year.
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