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Oil giant Saudi Aramco says has profits of $161 bln in 2022
Oil giant Saudi Aramco said Sunday it earned a $161 billion profit last year, attributing its earnings to higher crude oil prices.
The firm said in its annual report that the profit represented “its highest annual profits as a listed company.”
“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,” Saudi Aramco CEO and President Amin H. Nasser said in a statement.
Nasser said Aramco would spend $37.6 billion to expand its production capacity.
Aramco also declared a dividend of $19.5 billion for the fourth quarter of 2022, to be paid in the first quarter of this year.
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