Oil giant Saudi Aramco said Sunday it earned a USD 161 billion profit last year.
The firm, known formally as the Saudi Arabian Oil Co., said in its annual report that higher crude oil prices propelled its profits.
It made the announcement on Riyadh’s Tadawul stock exchange.
In 2021, Aramco declared profits of USD 110 billion, as compared to USD 49 billion in 2020 when the world faced the worst of the coronavirus pandemic lockdown, travel disruptions and oil prices briefly going negative.
Benchmark Brent crude oil now trades around USD 82 a barrel, though prices had reached over USD 120 a barrel back in June.
