Saudi Aramco’s 2022 Net-Profit Soars 46% To $161 Billion On Strong Oil Demand

By Nirmal Narayanan

Energy giant Saudi Arabian Oil Co.’s net profit in 2022 soared 46.46 percent year-on-year to SR604.01 billion ($161 billion), driven by higher oil prices, increased volumes sold and improved margins for refined products, according to a bourse filing.   

In 2021, Saudi Aramco’s total net profit was...