business / news / / Hindustan Times
Saudi Arabian Oil Co. posted a net profit of $32.5 billion for the three months ending March 31.
Aramco reported a net profit of $32.5 billion for Q1, up from $26 billion last year.
KEY POINTS
- Aramco maximized its East-West pipeline to 7 million barrels a day after Hormuz was closed.
- The East-West pipeline supplies both Saudi Arabia's west coast refineries and international buyers.
- Aramco's ability to benefit from higher prices depends on the reopening of the Hormuz strait.
COMPANIES
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