ERBIL, Kurdistan Region of Iraq - Saudi oil giant Aramco on Tuesday reported a 44 percent increase in second-quarter net profit despite disruptions to shipping through the Strait of Hormuz, driven by higher crude oil and refined product prices and continued exports through its East-West pipeline.

Aramco, which is majority-owned by the Saudi state and is the world's largest oil exporter, reported net income of around $32.7 billion for the April-June period, compared with around $22.67 billion during the same period in 2025.

The report said its results “are primarily driven by” higher prices of refined and chemical products and crude oil, as well as “improved refining margins, compared to the previous quarter.”

The company has also relied on its strategic 1,200-kilometer East-West Pipeline, linking oil fields in the Eastern Province bordering the Persian Gulf to the Red Sea port of Yanbu, to bypass the Strait of Hormuz. The pipeline has a capacity of 7 million barrels of crude oil per day.

Aramco CEO Amin H. Nasser said that despite disruptions in the Strait of Hormuz, “we continued to demonstrate our ability to maintain business continuity by capitalizing on our diverse asset base and multi-decade planning, including strategic infrastructure such as the East-West Pipeline, storage capacity, and export terminals.”

Major oil companies have reported soaring quarterly profits as fossil fuel prices climbed amid energy disruptions caused by hostilities between the United States and Iran since late February.

The closure of the Strait of Hormuz - a waterway through which roughly 20 percent of the world's oil passes - since the start of the conflict has driven global oil prices higher.

On Monday, US President Donald Trump told reporters at the White House that US oil giants ExxonMobil and Chevron are making “too much money” because of supply shortages, saying “I don’t like it” and “they better cut retail price, consumer price.”

“When we finish with Iran, you’re going to see the prices drop through the floor,” he said.