LONDON: Saudi Aramco has completed a major upgrade of its port at Yanbu that will allow it to handle an extra 3 million barrels per day of crude oil.
It comes amid a global supply crunch that has led to calls for increased output from Middle East oil exporters such as Saudi Arabia.
The terminal, which is located south of Yanbu on the west coast, consists of a tank farm and offshore facilities to receive, store and load Arabian Light and Arabian Super Light Crude.
“The successful startup of the Yanbu South Terminal is another milestone in reinforcing Saudi Aramco’s goal to be the world’s leading integrated energy and chemicals producer,” said Abdullah Al-Mansour, executive head of pipelines, distribution and terminals at Saudi Aramco.
Yanbu is one of Saudi Arabia’s key petroleum shipping terminals and the country’s second port after Jeddah, located about 300 kilometers to the south. Crude flows from oilfields in the east of the country through pipelines that terminate in Yanbu, before being loaded onto supertankers and being transported around the world.
OPEC Secretary-General Mohammad Barkindo on Tuesday urged oil companies to increase capacity and boost investment as spare oil capacity shrinks worldwide.
The global oil sector needs about $11 trillion in investment to meet future oil needs in the period up to 2040, Barkindo said.
Earlier this week Saudi Energy Minister Khalid Al-Falih said that the Kingdom was the world’s energy “shock absorber” and pledged to continue to offer a cushion to global supply interruptions.
His remarks coincided with mounting concerns among energy-importing nations about the recent rise in the oil price and increased pressure from the US for the Kingdom to boost production.
“We could have another unanticipated, unplanned disruption. We’ve seen Libya, we’ve seen Nigeria, we’ve seen Venezuela and we have sanctions on Iran. These supply disruptions need a shock absorber,” Al-Falih told the CERAWeek event by IHS Markit.
“The shock absorber has been, to a large part, Saudi Arabia. We have invested tens of billions of dollars to build the spare capacity which has been two to three million barrels over the years.”
Aramco boosts oil export capacity from the west
Aramco boosts oil export capacity from the west
- Move will allow Yanbu to handle extra 3 million barrels daily
- Exports crude from oilfields in the east of the Kingdom
Saudi Maaden reports 156% surge in annual net profit to $2bn on strong commodity prices and record production
RIYADH: Saudi mining and metals company Maaden has reported a 156 percent jump in its net profit attributable to shareholders for 2025, driven by higher commodity prices, record production volumes, and a one-off bargain purchase gain.
The state-backed giant posted a net profit of SR7.35 billion ($1.95 billion) for the full year 2025, an increase from SR2.87 billion in the previous year. The firm’s revenue surged by 19 percent to SR38.58 billion, up from SR32.55 billion in 2024.
This comes as Saudi Arabia steps up efforts to expand its mining sector as a pillar of economic diversification, encouraging international participation and private investment to unlock the Kingdom’s estimated $2.5 trillion in untapped mineral resources under Vision 2030.
In a statement on Tadawul, the company said: “Performance was led by record phosphate production, near record aluminum production, an increase in all three of Maaden’s main output commodity prices.”
The performance was also fueled by a 60 percent increase in gross profit, which reached SR14.79 billion. In its annual results announcement, Maaden attributed the top-line growth to “higher commodity market prices for phosphate, aluminum and gold business units,” as well as increased sales volumes in its phosphate and aluminum segments. This was partially offset by slightly lower sales volume in the gold unit.
Maaden’s CEO, Bob Wilt, hailed 2025 as a transformative year for the company, marked by strategic growth and operational excellence. “This was a great year for Maaden’s strategic growth. We delivered strong financial results and sustained operational excellence across the business,” he said in a statement.
“This was driven by growth in production across all businesses, including record-breaking DAP (di-ammonium phosphatevolumes), disciplined cost control across and a clear commitment to our role as a cornerstone of the Saudi economy,” Wilt added.
Profitability was further bolstered by an increased share of net profit from joint ventures and an associate. This included a one-off bargain purchase gain of SR768 million related to Maaden’s investment in Aluminium Bahrain B.S.C. The company also benefited from lower finance costs.
The fourth quarter of 2025 was strong, with Maaden swinging to a net profit of SR1.67 billion, compared to a loss of SR106 million in the same period of the prior year. Quarterly revenue rose 7 percent to SR10.64 billion.
The firm achieved record production of di-ammonium phosphate, reaching 6.72 million tonnes for the year, a 9 percent increase. Aluminum production remained near-record levels, while the company added a net 7.8 million ounces to its reportable gold mineral resources through discovery and resource development.
The phosphate division saw sales jump 17 percent to SR20.77 billion, with the earnings before interest, taxes, depreciation, and amortization margin expanding to 47 percent. The aluminum business reported a 9 percent increase in sales to SR10.99 billion, with EBITDA more than doubling in the fourth quarter.
Looking ahead, Wilt emphasized that the pace of growth will accelerate as the company advances key initiatives, including the Phosphate 3 Phase 1 and Ar Rjum projects, which remain on budget and schedule. Maaden has also secured a gas supply for its future Phosphate 4 project.
“This pace of growth will only accelerate. Not only as we advance projects and increase the scale of our exploration program, but as we continue to grow production and implement technology that will further modernize, streamline and unlock value,” Wilt added.
Earnings per share for the year rose sharply to SR1.91, up from SR0.78 in 2024. Total shareholders’ equity increased by 18.7 percent to SR61.59 billion.
