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Saudi Aramco reports bumper profits as it bypasses Strait of Hormuz
World🏛️ PoliticsCenter16 days ago

Saudi Aramco reports bumper profits as it bypasses Strait of Hormuz

Saudi Aramco reported a significant increase in profits, rising by 33% in the second quarter of the year, attributed to higher energy prices driven by the ongoing conflict between the United States and Iran. The company was able to avoid the Strait of Hormuz, a critical shipping route, through its oil pipeline infrastructure. This period saw increased tensions in the region, with Iran attempting to exert influence over the strait and attacking several vessels. In response, the U.S. conducted military actions against Iran, leading to retaliatory strikes by Iran targeting Gulf states such as Kuwait and Bahrain. These developments contributed to a rise in global energy prices, including Brent crude oil surpassing $100 per barrel. As a result, several countries in the region, including Iraq, Kuwait, Bahrain, and Qatar, faced challenges in maintaining their usual levels of energy exports.

Saudi Aramco announced a significant increase in its profits for the second quarter of 2026, reporting a 33 percent rise compared to the same period last year. The state-owned oil giant recorded an adjusted net income of $33.4 billion, surpassing the previous year's figure of $25.2 billion. This surge came amid ongoing geopolitical tensions involving the United States, Israel, and Iran, which have driven up global energy prices. The conflict has disrupted shipping through the Strait of Hormuz, prompting Saudi Aramco to reroute some of its oil shipments through alternative routes. The second quarter of 2026 spans from early April to the end of June. During this time, a ceasefire between the U.S. and Iran was initially agreed upon in April and later extended into June. However, hostilities have persisted, with Iran seeking to exert influence over the Strait of Hormuz and launching attacks against vessels navigating through Oman’s territorial waters. In response, the U.S. has conducted military operations targeting Iran, leading to retaliatory actions from Tehran, particularly against Gulf states such as Kuwait and Bahrain. These developments have significantly impacted global energy markets. The price of Brent crude, the international benchmark for oil, exceeded $100 per barrel in May and again in July. Prices for refined petroleum products, including diesel, jet fuel, and gasoline, have also risen sharply. As a result, several countries, including Iraq, Kuwait, Bahrain, and Qatar, have either canceled or drastically reduced their energy exports. In addition to Saudi Aramco, other major global oil companies have also seen substantial increases in profitability. According to reports from The Guardian, eight of the world's largest oil producers collectively generated nearly $93 billion in profit between April and June 2026, almost twice the amount earned in the same period last year. This translates to an average growth rate of over $700,000 per minute in their combined earnings. Among these companies, Saudi Aramco emerged as the top performer, generating over $33 billion in net income, approximately one-third higher than the corresponding period in the prior year. American oil giants have also experienced notable gains. Chevron reported a profit of around $12.2 billion, more than five times the amount earned in the same period last year. ExxonMobil saw its profits reach approximately $14.5 billion, nearly double the figure from the previous year. European energy firms were not left behind either. BP recorded a profit of roughly $5.73 billion, while Shell reported nearly $9.84 billion in profit, marking one of the best quarterly performances in the company's history. Norway's Equinor increased its profit from $1.8 billion to $3.2 billion. The overall market value of these eight major oil companies has grown by approximately $600 billion since the beginning of the year, surpassing three trillion dollars. This financial windfall occurs simultaneously with increasing weather extremes in Europe, including heatwaves and wildfires, which have prompted calls for special taxes on extraordinary profits made by energy companies. Advocates argue that part of these funds could be directed towards climate change adaptation and funding renewable energy sources. Meanwhile, oil companies emphasize that their industry operates in cyclical conditions where high prices can quickly decline. Despite the political and environmental debates surrounding these profits, the figures clearly indicate that the second quarter of 2026 has been one of the most profitable periods in the history of the world's largest oil companies.

5 reports

Middle East Eye logoMiddle East EyeIndependentCenterFactual 90Objective 8519 days ago
Saudi Aramco reports bumper profits as it bypasses Strait of Hormuz

Saudi Aramco reported a significant increase in profits, rising by 33% in the second quarter of the year, attributed to higher energy prices driven by the ongoing conflict between the United States and Iran. The company was able to avoid the Strait of Hormuz, a critical shipping route, through its oil pipeline infrastructure. This period saw increased tensions in the region, with Iran attempting to exert influence over the strait and attacking several vessels. In response, the U.S. conducted military actions against Iran, leading to retaliatory strikes by Iran targeting Gulf states such as Kuwait and Bahrain. These developments contributed to a rise in global energy prices, including Brent crude oil surpassing $100 per barrel. As a result, several countries in the region, including Iraq, Kuwait, Bahrain, and Qatar, faced challenges in maintaining their usual levels of energy exports.

Bias read (Center): The article presents factual information regarding the profit increase of Saudi Aramco and attributes it to geopolitical events involving the U.S.-Iran conflict. It does not exhibit clear bias towards any particular side, providing context about both the economic impact and the regional tensions. No

Why factuality (90): The article provides specific figures (e.g., $33.4bn profit for Saudi Aramco) and links them directly to geopolitical events such as the US-Israeli war on Iran and the impact on energy prices. These claims align with the broader consensus found in other articles and are supported by clear references

Why objectivity (85): The article maintains a relatively neutral tone, presenting facts without overt bias. While it mentions the US-Israeli war on Iran and its effects, it avoids taking sides or expressing strong opinions, maintaining an objective stance overall.

24ur (POP TV) logo24ur (POP TV)IndependentCenterFactual 85Objective 7516 days ago
While the world trembled with war, they made 600,000 euros a minute

Osem največjih svetovnih naftnih družb je v letu 2024 med aprilom in junijem zabeležilo skupaj 93 milijard dolarjev dobička (80 milijard evrov), kar predstavlja več kot dvakrat več kot v istem obdobju lani. Glavni dejavnik za ta rast je bila skoka cen nafte zaradi geopolitičnih napetosti, predvsem na Bližnjem vzhodu, kjer se strah pred morebitnim širjenjem konflikta med Iranom, Izraelom in Združenimi državami Amerike odražal v višjih cenah. Največji dobiček je ustvaril Saudi Aramco z več kot 33 milijardimi dolarji, medtem ko so tudi ameriški velikani, kot sta Chevron in ExxonMobil, zabeležili rekordne rezultate. Evropski energetski velikani, kot sta BP in Shell, so tudi sami zabeležili znatno rast dobičkov. Skupna tržna vrednost teh osmih družb je narasla za približno 600 milijard dolarjev.

Bias read (Center): The article presents factual economic data regarding oil companies' profits during geopolitical tensions without overtly endorsing or criticizing any specific political stance. It reports on market trends, price fluctuations, and corporate performance based on external sources like The Guardian andš

Why factuality (85): The article cites The Guardian as a source and provides specific figures (e.g., $93 billion in combined profits for eight major oil companies). These numbers align closely with the information presented in other articles, though some details are paraphrased rather than quoted directly. The link betw

Why objectivity (75): While the article presents factual data, it uses emotionally charged language such as 'napeti' (tense) and 'drago' (expensive) to describe the situation, which may subtly influence reader perception. It also focuses primarily on the gains of oil companies without providing counterpoints or exploring

Sky News (UK) logoSky News (UK)IndependentCenterFactual 85Objective 7519 days ago
Oil giant BP profits more than double due to Iran war - again

BP, a major oil and gas company, reported a significant increase in profits, which more than doubled. This surge in profitability is attributed to the ongoing conflict in Iran, which has led to higher prices for fossil fuels. The situation highlights the impact of geopolitical tensions on energy markets. As the war continues, such conflicts often lead to increased demand for oil and gas, thereby influencing global market dynamics.

Bias read (Center): The article presents a straightforward report on BP's profit increase linked to the Iran war without apparent bias. It does not favor any particular side or present loaded language, thus maintaining a balanced perspective.

Why factuality (85): The article accurately reports BP's profit increase and attributes it to the war in Iran, aligning with other sources. It provides a concise summary of the situation without adding speculative or unverified information. The reference to the war's impact on fossil fuel prices is well-supported.

Why objectivity (75): The article is generally neutral in tone but uses phrasing like 'again' and 'due to Iran war' which might imply a recurring issue, potentially influencing the reader's interpretation. It does not offer alternative perspectives or delve into the broader implications of the profit increases.

Middle East Eye logoMiddle East EyeIndependentCenterFactual 80Objective 7019 days ago
BP profits more than double amid high oil prices

BP announced record profits of $5.73 billion for the second quarter of 2026, driven by rising global oil and gas prices linked to the ongoing US-Israeli conflict with Iran. The surge in energy prices stems from disruptions in Gulf energy exports caused by the war. US President Donald Trump expressed criticism toward major oil companies, stating he disapproves of their increased earnings due to the current market conditions.

Bias read (Center): The article presents factual information about BP's financial performance and includes direct quotes from US President Donald Trump expressing his views on the matter. There is no evident bias in the framing, word choice, or emphasis. The content remains balanced, providing both the corporate profit

Why factuality (80): The article accurately reports BP's profit increase and ties it to the ongoing US-Israeli war on Iran. It includes a direct quote from President Trump criticizing oil companies, which adds context and supports the factual claims. However, it lacks specific figures beyond mentioning 'record-high prof

Why objectivity (70): The article leans slightly toward a critical view of oil companies by including Trump's comments, which introduces a subtle bias. While it remains mostly factual, the inclusion of political commentary may affect its perceived neutrality.

Stuff logoStuffIndependentCenterFactual 50Objective 6023 days ago
Major oil companies scoop eye-watering profits US-Iran fighting balloons energy prices

The headline suggests that major oil companies have made substantial profits due to rising energy prices linked to tensions between the United States and Iran. However, no detailed information or specific data is provided in the available text to confirm this claim or provide further context.

Bias read (Center): The headline mentions geopolitical tensions (US-Iran relations) and their impact on energy prices, which is a politically charged issue. However, there is no explicit slant in the wording or framing, and no additional content is available to determine a clear ideological leaning.

Why factuality (50): The article makes a broad claim about major oil companies profiting from US-Iran tensions but provides no specific data or sources to support this assertion. It lacks details on which companies, how much profit, or any direct connection to the conflict. This weakens its factual credibility.

Why objectivity (60): The tone is somewhat sensationalized by using phrases like 'eye-watering profits' and 'fighting balloons energy prices,' which suggest a biased or emotionally charged perspective rather than a neutral report. It does not present opposing viewpoints or contextualize the situation objectively.

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