00:00In other news, Saudi oil giant Aramco has reported a 44% increase in second quarter net profit
00:06as it reaped higher prices for crude oil, refined products and chemicals
00:11while forced to reroute shipments to avoid the Strait of Hormuz.
00:15The world's top oil exporter posts net profits of US$32.7 billion in the three months ending June 30,
00:23compared with US$22.7 billion a year earlier.
00:28CEO Armin Nasser said that despite the unprecedented supply disruption through the Strait of Hormuz,
00:34the company continued to maintain business continuity by capitalizing on their diverse asset base and planning,
00:40citing the East-West pipeline, Aramco's storage capacity and its export terminals.
00:45The company has ramped up exports through the East-West pipeline to the Red Sea port of Yanbu
00:51since the US-Israeli conflict with Iran triggered the biggest disruption in the history of energy markets.
00:57Nasser has previously described the route as a critical lifeline.
01:01However, that alternative route and Saudi export terminals on the Red Sea have now also come under threat.
01:08In July, Iran-aligned Houthi forces announced a blockade of Saudi Arabia's oil industry in the Red Sea,
01:14extending the disruption to a second major waterway and pushing oil prices higher.
01:21aminll weather сюда's creativity with U.S.
01:21and they went on to a counterbalance.
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