Aramco CEO Warns Strait of Hormuz Disruption Threatens Global Food Security

TDT | Manama

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Saudi Aramco President and CEO Amin Nasser has warned that continued disruption in the Strait of Hormuz could have consequences far beyond energy markets, affecting global food security due to its vital role in international trade.

Speaking after the company released its latest quarterly financial results, Nasser described the crisis in the strategic waterway as one of the most significant supply disruptions ever experienced by the global oil market. He said more than 2.6 billion barrels of oil supplies had been affected since the crisis began.

Despite the challenges, Nasser said Aramco maintained strong operational performance and financial stability during the second half of the year. He noted that the company continued to focus on its long-term growth strategy while preserving a solid financial position and sustaining shareholder dividends.

According to Nasser, regional geopolitical tensions have placed additional pressure on global energy markets. However, Aramco has been able to minimise disruptions by using its extensive export infrastructure and redirecting shipments through alternative routes, including outlets outside the Arabian Gulf and the Red Sea.

He said the company's operational flexibility, contingency planning and efficient production and distribution network helped reduce the impact of the crisis on international energy markets.

Aramco also reported a strong financial performance for the second quarter, with net profit rising 44% year-on-year to $32.69 billion for the three months ending June 30, compared with $22.67 billion during the same period last year.