Aramco Greenlights $5 Billion Zuluf Expansion As Q2 Earnings Set to Dip

Saudi Aramco has awarded a fresh round of contracts for the mammoth Zuluf oilfield expansion—an offshore project worth around $5 billion, aimed at boosting production capacity by more than 600,000 barrels per day. This latest investment push comes just days before Aramco is set to release its Q2 2025 results, which analysts expect will reflect a double-digit profit decline amid sustained oil price weakness. According to Upstream, the new Zuluf development phase involves at least five key packages covering offshore platforms, subsea infrastructure,…