Saudi Aramco reports record profit of $161.1 billion in 2022

By Hadeel Al Sayegh and Maha El Dahan

DUBAI (Reuters) – Saudi Arabian oil giant Aramco (TADAWUL:) on Sunday reported a record net profit in 2022, boosted by higher energy prices, increased volumes sold and improved margins for refined products.

Net profit rose to $161.1 billion for the year that ended December 31, from $110 billion a year earlier, and compared with analysts’ mean estimate of $162.17 billion, according to Refinitiv Eikon.