Aramco’s adjusted Q2 profit jumps 33% despite supply disruption

RIYADH: Saudi Aramco reported second-quarter adjusted net income of $33.4 billion, up 33 percent year on year, as the state oil giant weathered unprecedented disruption through the Strait of Hormuz while maintaining production and exports to global markets. The company’s board declared a second-quarter base dividend of $21.9 billion, payable in the third quarter, even as free cash flow fell to $12.3 billion from $18.6 billion in the prior quarter, a drop Aramco attributed largely to a $13.6 billion working capital build.

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