Aramco Third Quarter Profit Up 35% Despite War Disruptions

Saudi state oil company Aramco reported on Tuesday a 34.5% increase in third-quarter net profit despite attacks on its facilities, mainly due to higher revenue and its exit from a joint venture.

The world's top oil exporter reported a net profit of $36.25 billion in the three months ended September 30 compared with $26.9 billion in the year-earlier period. Net profit was $32.7 billion in the second quarter.

Adjusted net income in the third quarter was about $31.2 billion, beating a median analyst consensus shared by Aramco from 12 analysts of $30.66 billion.

The US-Iran war has cut Aramco's output but higher oil prices have offset the reduced volumes.

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