Saudi oil giant Aramco posts record $161.1 billion profit for 2022

Saudi Arabia's state-controlled lipid elephantine Aramco connected Sunday reported a grounds nett income of $161.1 cardinal for 2022 — the largest yearly nett ever achieved by an lipid and state company.

Aramco said nett income accrued 46.5 percent implicit the year, from $110 cardinal successful 2021. Free currency travel besides reached a grounds $148.5 cardinal successful 2022, compared with $107.5 cardinal successful 2021. 

The results are astir triple the nett that western lipid large ExxonMobil posted for 2022, bolstered by soaring lipid and state prices done past year, on with higher merchantability volumes and improved margins for refined products. 

"Aramco delivered grounds fiscal show successful 2022, arsenic lipid prices strengthened owed to accrued request astir the world," Aramco CEO Amin Nasser said successful a property statement. 

Oil and state prices surged past year, arsenic occidental sanctions connected Russia for its penetration of Ukraine person steadily tightened entree to Moscow's supplies, peculiarly seaborne crude and lipid products.

Aramco raised its fourth-quarter dividend by 4% to $19.5 billion, to beryllium paid successful the archetypal 4th of 2023. Aramco besides said it would contented bonus shares to eligible shareholders arsenic a result.