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FinancialNews


  • 13-03-23

    Saudi Aramco’s 2022 net income rises 46 percent to reach USD161 billion as oil request grows

    (MENAFN) Energy massive Saudi Arabian Oil Co.’s net income last year climbed 46.46 percent on a yearly basis to reach SR604.01 billion (USD161 billion), motivated by elevated oil rates, higher volumes sold and improved margins for refined outputs, as shown by a bourse filing.

    Last year, Saudi Aramco’s overall net income stood at SR412.4 billion.

    The Riyadh-based company also recorded an overall comprehensive profit of SR622.63 billion during last year, rising 48.15 percent in comparison with the year before.

    Giving the remarks on the economic results, Aramco President and CEO Amin H Nasser asserted that “Aramco delivered a record financial performance in 2022, as oil prices strengthened due to increased demand around the world. 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.”

    As the income climbed, Saudi Aramco’s board of directors also declared an overall cash dividend of SR73.15 billion for the fourth quarter of last year, a 4.0 percent increase in comparison with the prior quarter, as said in a statement given to the Saudi Stock Exchange, also known as Tadawul.

    MENAFN13032023000045014228ID1105761654

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