Saudi Arabian Oil Co., also known as Aramco, announced it earned a record-high profit of $161.1 billion during 2022 following higher crude oil prices that soared mostly during Q3.
Hightower Resource Advisors CEO Tracy Shuchart provides insight on the stock market and the influence of China on 'Making Money.'announced Sunday it earned a record-high profit of $161.1 billion during 2022, attributing its massive jump in earrings to higher crude oil prices.
"We also continued to focus on our long-term strategy, building both capacity and capability across the value chain with the aim of addressing energy security and sustainability," Nasser wrote. "Given that we anticipate oil and gas will remain essential for the foreseeable future, the risks of underinvestment in our industry are real — including contributing to higher energy prices," he added.
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Oil giant Saudi Aramco has profits of $161B in 2022DUBAI, United Arab Emirates (AP) — Oil giant Saudi Aramco said Sunday it earned a $161 billion profit last year, attributing its earnings to higher crude oil prices. 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.'
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Saudi Aramco reports record profit of $161.1 billion in 2022Saudi Arabian oil giant Aramco on Sunday reported a record net profit in 2022, boosted by higher energy prices, increased volumes sold and improved margins for refined products.
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Saudi Aramco Posts Record $161 Billion Profit for 2022Saudi Arabia’s national oil company also raised its dividend, as it benefited from high oil prices fueled by the war in Ukraine.
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