Saudi Aramco reports 46% jump in profits for 2022
RIYADH: Saudi Aramco reported on Sunday that profits jumped 46 percent last year, highlighting how a surge in oil prices after Russia invaded Ukraine spurred growth in the world’s biggest crude exporter.
The mostly state-owned energy giant, the world’s second most valuable company behind Apple, said in a filing with the Saudi stock market that net income for 2022 was $161.07 billion, up from $110 billion in 2021.
The increase was “predominantly due to the impact of higher crude oil prices and volumes sold, and stronger refining margins,” it said.
