Saudi Aramco’s 2022 profits rise 46.5% to $161 billion
Oil giant Saudi Aramco reported on Sunday its profits surged to $161 billion last year off higher crude prices, a record result for an energy firm crucial to the kingdom’s economy.
The firm, known formally as the Saudi Arabian Oil Co., said in its annual report that the profit represented “its highest annual profits as a listed company.”
That came off the back of energy prices rising after Russia launched its war on Ukraine in February 2022, with sanctions limiting the sale of Moscow’s oil and natural gas in Western markets.
