RIYADH, March 10 (Xinhua) — Saudi Aramco CEO Amin Nasser warned Tuesday that the regional military escalation has caused a severe chain reaction in shipping and insurance, saying that prolonged disruption will worsen consequences for global oil markets and the wider economy.
About 17 percent of global oil supply normally transits the affected region, with disruptions so far amounting to nearly 80 million barrels, Nasser said during a media call held alongside the release of Aramco’s 2025 results, which showed adjusted net income of 104.7 billion U.S. dollars for the full year and 25.1 billion dollars for the fourth quarter.
Nasser said the company is using its operational capabilities and the flexibility of its infrastructure and network to continue serving customers under rapidly evolving circumstances.
Aramco is maximizing the use of the East-West pipeline, which has a capacity of nearly 7 million barrels per day, in the coming days as rerouted customers arrive at western loading terminals, he said.
He said that the company’s Ras Tanura oil refinery was shut down as a precaution after attacks, and that a small fire was extinguished quickly and the company is restarting the facility.
The company maintains a maximum sustainable production capacity of 12 million barrels per day, he noted.
