Saudi Aramco Reports Record Profits In 2022

Saudi Aramco reported a net profit of $161.1 billion for 2022, up from $110 billion a year earlier and a record net earnings result for the company, which joins every other big oil producer in the world to benefit from higher oil prices. The company also boasted a record cash flow from operating activities, at $186.2 billion, and a record free cash flow, at $148.5 billion. In comments on the company’s results, chief executive Amin Nasser noted that he expected oil and gas demand across the world to remain robust, fueling the future growth…