Aramco CEO Amin Nasser warned that world oil provides have declined by an estimated one billion barrels over the previous two months as delivery disruptions by the Strait of Hormuz proceed to limit flows.
Even when commerce routes return to regular, he cautioned, stabilisation in power markets might take time to materialise, in line with Reuters.
Nasser made these remarks as Aramco introduced its outcomes for the primary quarter of 2026 (Q1 2026), reporting internet revenue of SR122bn, a rise of 25% from SR97.5bn in the identical interval final yr.
Adjusted internet revenue for the Saudi Arabian nationwide oil and fuel firm rose 26.3% to $33.6bn from $26.6bn a yr earlier.
Money circulation from working actions was $30.7bn, a slight decline from $31.7bn in Q1 of the earlier yr.
Free money circulation was recorded at $18.6bn, barely down from $19.2bn a yr earlier, impacted by a $15.8bn working capital construct.
Aramco’s gearing ratio stood at 4.8% as of 31 March 2026, up from 3.8% on the finish of 2025.
Capital expenditures amounted to $12.1bn within the reported quarter, down barely from $12.5bn as the corporate continued to assist its development aims.
In operational developments, the East-West Pipeline reached its most capability of seven million barrels per day throughout the quarter, bolstering exports through Saudi Arabia’s west coast.
The corporate’s home and worldwide storage capacities additional enhanced operational flexibility.
Based on Aramco, funding in important infrastructure and powerful contingency planning ensured continued operations and minimised disruptions.
The corporate said that regardless of non permanent disruptions at sure home refining and processing amenities, it maintained a provide reliability fee of 96.3% in Q1. This was achieved by optimising the circulation of hydrocarbon merchandise by its built-in world community.
Throughout the identical interval, the downstream section utilised almost 51% of Aramco’s crude oil manufacturing.
Nasser stated: “Aramco’s first-quarter efficiency displays sturdy resilience and operational flexibility in a posh geopolitical surroundings.
“Our East-West Pipeline, which reached its most capability of seven million barrels of oil per day, has confirmed itself to be a crucial provide artery, serving to to mitigate the impression of a worldwide power shock and offering aid to prospects affected by delivery constraints within the Strait of Hormuz.
“Current occasions have clearly demonstrated the very important contribution of oil and fuel to power safety and the worldwide financial system and are a stark reminder that dependable power provide is crucial.
