saudiaaramco

*1. Aramco's profits surged 25% thanks to the Hormuz crisis*
- Q1 profits reached *$32.5 billion*.
- Reason for the spike: The US-Iran war led to a partial closure of the Strait of Hormuz, prompting Aramco to operate the "East-West" pipeline at full capacity of 7 million barrels per day to transport oil to the Red Sea.
Announced a core dividend distribution of $21.9 billion for Q1.