Business
Saudi Aramco Profit Jumps Despite War Disrupting Shipping Routes
Saudi Arabia’s national oil company said its quarterly profit rose 25% as it increased exports via a pipeline that bypasses the Strait of Hormuz, after war in the Middle East disrupted shipping through the vital waterway.
Saudi Arabian Oil Co., which is known as Aramco and is the world’s top oil exporter, posted a net profit of $32.5 billion for the three months ending March 31, up from $26 billion in the same period last year.
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