Saudi Aramco

Some Asian refiners are resisting Saudi Aramco’s request to pick up their oil at Yanbu, located on the Red Sea. They stated this opposition stems from the difficulty of finding ships willing to sail through the dangerous waterway.

Saudi Aramco extinguished a fire at its refinery while Houthis claimed responsibility for the incident. Separately, Iran's foreign minister reportedly stated that his country is not engaging in talks with the U.S., but added that messages are being exchanged through intermediaries.

Saudi Aramco's adjusted net income rose 33% to $33.4 billion in Q2 2024, driven by the US-Israeli war on Iran that inflated energy prices and its pipeline bypassing the Strait of Hormuz. The conflict led to higher Brent prices above $100 per barrel and disrupted shipments in Iraq, Kuwait, Bahrain, and Qatar.

Saudi Aramco reported a 33% surge in profits for Q2 2026, driven by elevated energy prices due to the US-Israeli war on Iran and its ability to bypass the Strait of Hormuz via the East-West Pipeline. The pipeline enabled Saudi Arabia to maintain two-thirds of its pre-war oil exports while other Gulf states reduced shipments. The conflict has spurred regional efforts to develop alternative infrastructure to avoid Hormuz.

Big oil companies are reporting record profits due to rising oil prices driven by conflict in Iran, with European firms earning $22 billion in Q1 and U.S. companies like Exxon Mobil and Chevron nearly doubling or quadrupling profits. The situation has caused fuel shortages in parts of Asia and higher energy costs globally, prompting criticism from U.S. President Donald Trump.

Big oil companies in Europe, the Middle East, and the U.S. report record profits amid rising oil prices driven by conflict in Iran and disruptions at the Strait of Hormuz. U.S. President Donald Trump criticized Chevron and Exxon Mobil for their high profits, while oil prices recently declined following speculation of a potential resolution to the Iran conflict.

Big oil companies in Europe, the Middle East, and the U.S. are reporting record profits amid rising oil prices driven by conflict in Iran and disruptions at the Strait of Hormuz. Companies like BP, Saudi Aramco, Exxon Mobil, and Chevron saw significant profit increases, while President Donald Trump criticized energy firms for high profits despite falling oil prices.

Saudi Aramco reported $33.4 billion in adjusted net income for the second quarter, exceeding analyst expectations, driven by oil prices averaging $108 a barrel amid the Iran war.

US stocks climbed toward a record as companies reported rising profits and oil prices declined. The S&P 500, Dow Jones, and Nasdaq all rose, with Palantir Technologies surging after strong revenue growth. President Trump criticized oil companies for high profits, while talks with Iran potentially eased tensions and pressured oil prices downward.

Saudi Aramco’s second-quarter profit rose 33% due to higher oil prices and strong refining margins, despite lower export volumes caused by disruptions in the Strait of Hormuz and Bab el-Mandeb. The company maintained operations using infrastructure like the East-West pipeline and Red Sea terminals but faces challenges diverting prewar export levels. Aramco plans to expand export capacity to address future disruptions.

The article discusses conflicting claims about U.S.-Iran negotiations over the Strait of Hormuz, with Donald Trump asserting a deal is nearing completion while Iran denies such talks. A UN-backed mechanism proposed by the International Chamber of Commerce aims to neutralize the area and de-escalate tensions, potentially resolving the standoff.

Saudi Aramco reported a 44 percent increase in net profits due to rising oil prices linked to the war on Iran. The company's net income rose to 122.6bn Saudi riyals ($32.7bn) for April to June, up from 85bn riyals ($22.7bn) a year earlier. CEO Amin Nasser stated there was no material operational or financial impact from July attacks on Aramco facilities, emphasizing the company's ability to maintain business continuity despite supply disruptions through the Strait of Hormuz.

Saudi Aramco reported that July attacks caused no material operational impact and stated it is expanding oil export capacity amid disruptions in the Strait of Hormuz due to the Iran war.

Saudi Aramco's profits increased by 33% in the second quarter as the Iran war reduced oil supply. Oil supermajors also reported high quarterly profits driven by elevated fossil fuel prices linked to the conflict.

Saudi Aramco closed the Jazan oil refinery following a Houthi attack. The company plans to complete repairs and restart operations by 15 August.

Saudi Aramco closed its Jazan refinery after a Houthi attack damaged the facility, disrupting operations at a 400,000-barrel-per-day refinery. The attack damaged the refinery’s gasification complex and storage area, with repairs expected to resume operations by August 15. A Houthi spokesperson confirmed strikes on Jazan and Yanbu facilities, escalating regional tensions.

The U.S. decided against striking Iran, while Yemen's Iran-aligned Houthis attacked Saudi Aramco facilities in Jizan and Yanbu, Saudi Arabia, causing a smoke plume in Jizan.

The US paused airstrikes against Iran as concerns over dwindling munitions and defensive supplies emerged, raising hopes for renewed negotiations. The conflict, now nearing its fifth month, has expanded beyond the Strait of Hormuz to include attacks on US bases and Gulf allies, with President Trump threatening a 'much higher level' of strikes despite military and diplomatic risks.

The US has paused nightly strikes on Iran, raising questions about President Trump’s strategy amid intensified clashes between Houthi rebels and Saudi Arabia. Houthi rebels claimed they attacked Saudi Aramco facilities in Jizan and Yanbu, but Saudi authorities have not confirmed the attacks.

Houthis targeted a Saudi Aramco refinery in Jizan, causing smoke as shown in a verified social media video. The attack occurred amid tensions over the Red Sea front.

SLB, a $70 billion oil services company founded by the Schlumberger brothers in 1926, is positioned to benefit from oil exploration recovery in the Middle East and Venezuela. The company partners with entities like Saudi Aramco and ADNOC, and its longevity in volatile markets positions it to profit from post-Strait of Hormuz energy sector growth.

The Middle East is investing in pipeline projects to bypass the Strait of Hormuz amid geopolitical tensions over control of energy flows. Experts note significant financial commitments to rewire oil transportation routes as Iran seeks dominance and the US counters its influence.

Middle Eastern countries are investing in new pipelines to bypass the Strait of Hormuz amid tensions over control of energy flows. Saudi Arabia, UAE, and Iraq are developing infrastructure projects to reduce reliance on the strategic chokepoint, while Kuwait and Bahrain face vulnerabilities due to geographic dependence on the strait.

Oil prices dropped due to sustained flows through Hormuz and increased supply flagged by OPEC+. Saudi Aramco aims to expand into refining and chemical production to align with growing demand and support economic diversification.

Major banks are increasing financing for fossil fuel expansion and petrochemical projects, abandoning climate commitments. Reports show $508 billion in 2025 for fossil fuel development and $252 billion for petrochemical activities since 2019, enabling the industry’s shift to plastics and fertilizers.

Abu Dhabi's ADNOC affiliate XRG has secured a 32% stake in three upstream blocks in Argentina, partnering with Eni and YPF to supply gas for the country's first LNG export terminal. This move aligns with Gulf energy majors expanding international LNG investments amid constrained home market exports.

A Saudi Aramco helicopter crashed in Ras Tanura on Saudi Arabia's eastern coast early Sunday, killing all 14 Saudi nationals on board. The cause of the crash remains unclear.

A Saudi Aramco helicopter crashed in Ras Tanura, killing all 14 passengers. The article includes a photograph by Maya Sidiqqi/Bloomberg.

A helicopter belonging to Saudi oil giant Aramco crashed in Ras Tanura on Saudi Arabia’s eastern coast, killing 14 nationals. The cause of the crash remains unknown, and investigations are underway. Aramco had recently resumed crude oil loadings at the Ras Tanura terminal after a four-month halt.

A helicopter owned by Saudi oil company Aramco crashed in Ras Tanura, killing 14 people. The Saudi state news agency reported the incident, noting the cause is unknown and an investigation is ongoing.

Saudi Aramco resumed crude oil loading at its Ras Tanura terminal after a near four-month halt, despite a ship from Evergreen being hit in the Strait of Hormuz. The move follows an interim deal between Iran and the US to end the war and reopen the strait, which handles a fifth of global oil and LNG supplies.

Saudi Aramco resumed oil loading at its Ras Tanura terminal in the Gulf after a near four-month halt. Shipping data showed two Very Large Crude Carriers loading crude, each capable of 2 million barrels, with another vessel waiting nearby.

Saudi Aramco has resumed oil loading at its Ras Tanura export terminal after a nearly four-month suspension, according to shipping data from Reuters. Two very large crude carriers were loading oil at the terminal, with another vessel waiting nearby, signaling a resumption of exports.

Saudi Aramco is set to restart oil exports from the Ras Tanura terminal as Gulf oil flows increase. The move signals a resumption of operations at the key Saudi oil facility.

Saudi Aramco chairman Yasir Al-Rumayyan advocates for 'energy realism' amid the Iran war's impact on global markets, criticizing European regulations that prioritize renewable energy over fossil fuels. He highlights the EU's revised sustainability rules and Saudi investments in Europe, including €10.4 billion in potential partnerships, while emphasizing ongoing global reliance on oil and gas.

SpaceX's $1.75 trillion IPO raised $85.7 billion, with its stock surging 19% on its debut and reaching $2.4 trillion in valuation. The IPO is compared to Saudi Aramco's $1.7 trillion offering in 2019 and Alibaba's $21.8 billion IPO, while SpaceX faces scrutiny over its $4.9 billion net losses despite revenue growth. Elon Musk's wealth increased to a trillionaire status, but the company's long-term profitability remains uncertain.

Elon Musk became the first trillionaire as SpaceX's stock surged in its IPO, giving the company a $2.1 trillion market value. Investors bet on SpaceX's future in satellites, orbital data centers, and Mars colonization despite current financial losses.

Elon Musk became the first trillionaire as SpaceX's stock surged in its initial public offering, with shares rising over 19% and giving the company a $2.1 trillion market value. SpaceX cited funding for satellites, orbital data centers, and Mars colonization as reasons for the IPO, which raised $75 billion, surpassing Saudi Aramco's previous record.

Elon Musk became the first trillionaire as SpaceX's stock surged in its IPO, reaching a $2.2 trillion market value. The company aims to fund Mars colonization and space projects despite ongoing losses.

US stocks rose as oil prices fell and SpaceX surged in its Wall Street debut, marking the first AI industry IPO. The S&P 500, Dow Jones, and Nasdaq all gained, with SpaceX's stock jumping 25% to a $2.21 trillion valuation. Tensions with Iran eased after President Donald Trump called off strike threats, contributing to lower oil prices.