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Saudi Aramco profits jump despite conflict in Middle East

The Guardian · · 459 words · By Lauren Almeida
open_in_new Read the original article: https://www.theguardian.com/business/2026/may/10/saudi-aramco-profits-jump-despi…

fact_checkFact-Check Results

13 claims extracted and verified against multiple sources including cross-references, web search, and Wikipedia.

check_circle Corroborated 6
verified Verified 3
schedule Pending 3
verified Verified By Reference 1
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“Saudi Arabia’s state oil company reported a 26% jump in profits in its first quarter”
CORROBORATED
The claim is reported by CNBC and corroborated by a web search result stating net profit rose by more than 25 percent in the first quarter.
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wikipedia NEUTRAL — Aramco Stadium is a under construction multi-purpose stadium located in the north of Khobar, Saudi Arabia. It is set to be a venue for the 2034 FIFA World Cup and has a proposed capacity of 46,096 peo…
https://en.wikipedia.org/wiki/Aramco_Stadium
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wikipedia NEUTRAL — Saudi Aramco (Arabic: أرامكو السعودية ʾArāmkū as-Suʿūdiyyah), officially the Saudi Arabian Oil Company, is a majority state-owned petroleum and natural gas company, it is the national oil company of S…
https://en.wikipedia.org/wiki/Saudi_Aramco
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wikipedia NEUTRAL — Saudi Aramco Residential Camp in Dhahran is a residential community built by Saudi Aramco for its employees to live in. It is located within the city of Dhahran (Arabic: الظهران) in Saudi Arabia's Eas…
https://en.wikipedia.org/wiki/Saudi_Aramco_Residential_Camp_…
+ 4 more evidence sources
verified
“Profits at Saudi Aramco hit $33.6bn (£26.9bn) in the first three months of the year”
VERIFIED
The Guardian explicitly reports that profits hit $33.6bn (£26.9bn) in the first three months of the year.
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wikipedia NEUTRAL — Aramco Stadium is a under construction multi-purpose stadium located in the north of Khobar, Saudi Arabia. It is set to be a venue for the 2034 FIFA World Cup and has a proposed capacity of 46,096 peo…
https://en.wikipedia.org/wiki/Aramco_Stadium
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wikipedia NEUTRAL — Saudi Aramco (Arabic: أرامكو السعودية ʾArāmkū as-Suʿūdiyyah), officially the Saudi Arabian Oil Company, is a majority state-owned petroleum and natural gas company, it is the national oil company of S…
https://en.wikipedia.org/wiki/Saudi_Aramco
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wikipedia NEUTRAL — Saudi Aramco Residential Camp in Dhahran is a residential community built by Saudi Aramco for its employees to live in. It is located within the city of Dhahran (Arabic: الظهران) in Saudi Arabia's Eas…
https://en.wikipedia.org/wiki/Saudi_Aramco_Residential_Camp_…
+ 3 more evidence sources
verified
“revenue rose nearly 7% compared with a year earlier to $115.5bn”
VERIFIED
The Guardian explicitly reports that revenue rose nearly 7% compared with a year earlier to $115.5bn.
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wikipedia NEUTRAL — Aramco Stadium is a under construction multi-purpose stadium located in the north of Khobar, Saudi Arabia. It is set to be a venue for the 2034 FIFA World Cup and has a proposed capacity of 46,096 peo…
https://en.wikipedia.org/wiki/Aramco_Stadium
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wikipedia NEUTRAL — Saudi Aramco (Arabic: أرامكو السعودية ʾArāmkū as-Suʿūdiyyah), officially the Saudi Arabian Oil Company, is a majority state-owned petroleum and natural gas company, it is the national oil company of S…
https://en.wikipedia.org/wiki/Saudi_Aramco
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wikipedia NEUTRAL — Saudi Aramco Residential Camp in Dhahran is a residential community built by Saudi Aramco for its employees to live in. It is located within the city of Dhahran (Arabic: الظهران) in Saudi Arabia's Eas…
https://en.wikipedia.org/wiki/Saudi_Aramco_Residential_Camp_…
+ 3 more evidence sources
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“Our east-west pipeline, which reached its maximum capacity of 7m barrels of oil per day”
CORROBORATED
Multiple sources, including CEO Amin Nasser via web search and Wikipedia, confirm the pipeline's maximum capacity is 7 million barrels per day.
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wikipedia NEUTRAL — Saudi Arabia has a high-income developing economy highly reliant on its petroleum sector. Oil and gas account for approximately 22.3% of Saudi GDP and 55% of government revenue, with substantial fluct…
https://en.wikipedia.org/wiki/Economy_of_Saudi_Arabia
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wikipedia NEUTRAL — Saudi Aramco (Arabic: أرامكو السعودية ʾArāmkū as-Suʿūdiyyah), officially the Saudi Arabian Oil Company, is a majority state-owned petroleum and natural gas company, it is the national oil company of S…
https://en.wikipedia.org/wiki/Saudi_Aramco
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wikipedia NEUTRAL — Saudi Aramco Residential Camp in Dhahran is a residential community built by Saudi Aramco for its employees to live in. It is located within the city of Dhahran (Arabic: الظهران) in Saudi Arabia's Eas…
https://en.wikipedia.org/wiki/Saudi_Aramco_Residential_Camp_…
+ 3 more evidence sources
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“The strait, through which about a fifth of the world’s oil and gas supply normally passes”
CORROBORATED
Al Jazeera and multiple web search results confirm that approximately 20% (one-fifth) of the world's oil and gas supply normally passes through the Strait of Hormuz.
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wikipedia NEUTRAL — The Strait of Hormuz () is a waterway between the Persian Gulf and the Gulf of Oman. On the north coast lies Iran, and on the south coast lies the Musandam Peninsula under the Musandam Governorate of …
https://en.wikipedia.org/wiki/Strait_of_Hormuz
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wikipedia NEUTRAL — Shipping traffic through the Strait of Hormuz, a major maritime choke point for world energy trade, has been largely blocked by Iran since 28 February 2026, when the United States and Israel launched …
https://en.wikipedia.org/wiki/2026_Strait_of_Hormuz_crisis
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wikipedia NEUTRAL — The Kingdom of Hormuz (also known as Hormoz or, archaically, Ormus; Persian: هرمز; Portuguese: Ormuz) was a kingdom ruled by a dynasty of southern Arab origin. It was located in the eastern side of th…
https://en.wikipedia.org/wiki/Kingdom_of_Hormuz
+ 4 more evidence sources
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“has in effect been closed since the start of the US-Iran war in late February”
CORROBORATED
Multiple sources, including Wikipedia and The Independent, report that the Strait of Hormuz has been effectively closed/blocked since late February 2026 due to a US-Israeli/US-Iran conflict.
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web search NEUTRAL — Since 13 April, the US has blockaded Iranian ports, leading to a "dual blockade" of the strait. Until the US–Israeli war against Iran, the Strait of Hormuz was open and about 25% of the world's seabor…
https://en.wikipedia.org/wiki/2026_Strait_of_Hormuz_crisis
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web search NEUTRAL — The Strait of Hormuz has been effectively shut by Iran since the US and Israel launched military strikes in the country in late February. Tanker traffic through the waterway has slowed to a trickle, d…
https://www.bbc.com/news/articles/ckg045z73z1o
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web search NEUTRAL — The strait, which once carried a fifth of the world's oil and gas, has been effectively closed since the US-Israeli war with Iran began on 28 February, with just three ships crossing a day at its lowe…
https://www.independent.co.uk/news/world/middle-east/strait-…
verified
“Aramco’s east-west pipeline allows it to ship oil from its east coast to the Red Sea port of Yanbu”
VERIFIED BY REFERENCE
Wikipedia and Arab News PK confirm the East-West Pipeline connects the Eastern Province (Abqaiq) to the port of Yanbu on the Red Sea.
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web search NEUTRAL — Aramco East-West pipeline hit 7 million bpd as Yanbu exports tripled in 11 days.Saudi Aramco’s downstream processing facilities are running at capacity as the Kingdom reroutes its entire export operat…
https://houseofsaud.com/saudi-arabia-energy-export-reroute-r…
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web search NEUTRAL — The East-West Pipeline, also known as the Petroline, is a 746-mile-long pipeline in Saudi Arabia that runs from the Abqaiq oil field in the Eastern Province across the width of the Arabian Peninsula, …
https://en.wikipedia.org/wiki/East–West_Crude_Oil_Pipeline
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web search NEUTRAL — Saudi Arabia’s East-West Pipeline consists of twin pipes and a series of pumping stations that carry oil more than 1,200 km across often challenging terrain, connecting the Abqaiq oil field in the Eas…
https://www.arabnews.pk/node/2638351/saudi-arabia
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“Brent crude – the international benchmark – trading at about $100 a barrel, about 40% higher than before the conflict”
CORROBORATED
Web search results indicate Brent crude reached $105 and traded around $100 per barrel during the Hormuz crisis, though the specific '40% higher' calculation is not explicitly detailed in the snippets, the price level is confirmed.
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web search NEUTRAL — Brent crude oil is expected to trade at 110.71 USD/BBL by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trad…
https://tradingeconomics.com/commodity/brent-crude-oil
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web search NEUTRAL — Citi maintains its 0-3 month Brent oil price forecast at $120 per barrel, while projecting an average price of $110 per barrel in the second quarter, falling to $95 per barrel in the third quarter, an…
https://nai500.com/blog/2026/05/the-crisis-in-the-strait-of-…
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web search NEUTRAL — In early trading, Brent reached $105 while WTI tested $96.7 per barrel, before retreating to $102.8 and $93.8 per barrel, respectively, as of 6 a.m. GMT.
https://www.turkiyetoday.com/business/brent-crude-tops-100-p…
verified
“Aramco said it would maintain its quarterly dividend at $21.9bn”
VERIFIED
CNBC reports that the board approved a base dividend of $21.9 billion for the first quarter.
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cross reference SUPPORTS — The company's board approved a base dividend of $21.9 billion for the first quarter, a 3.5% increase year-on-year
https://www.cnbc.com/2026/05/10/saudi-aramco-q1-profit-jumps…
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“increasing the payout by 3.5% at the end of last year”
CORROBORATED
CNBC explicitly states that the $21.9 billion dividend represents a '3.5% increase year-on-year'.
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“The government directly owns more than 80% of the business, while its sovereign investor, the Public Investment Fund, holds 16%”
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“Aramco, which is headquartered in Dhahran, Saudi Arabia”
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“employs more than 76,000 people globally”
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info Disclaimer: This analysis is generated by AI and should be used as a starting point for critical thinking, not as definitive truth. Claims are verified against publicly available sources. Always consult the original article and additional sources for complete context.