Saudi oil giant Aramco becomes latest energy firm to post record profits | CNN Business

Saudi Arabian oil giant Aramco on Sunday reported a record annual net profit of $161.1 billion for 2022, up 46% from the year earlier, on higher energy prices, increased volumes sold and improved margins for refined products. The profits follow similar reports in February from international peers BP, Shell, Exxon Mobil and Chevron which have mostly posted record profits for last year.

“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,” Aramco’s chief executive Amin Nasser said in the results statement. To address those challenges, the company is not only focused on expanding oil, gas and chemicals production, but also investing in new lower-carbon technologies with potential to achieve additional emission reductions, Nasser said.

Surprising there are so many peasants in Saudi Arabia

Yeah because gas and oil prices are way to high and are manipulated by these oil companies and shouldn't be allowed

😳😳😳😳😳😳😳😳😳😳😳😳😳

They must have trillions in the bank.

And yet somehow record global energy prices are all Biden’s fault! 🧐🤔🤦🏼‍♂️

Give me some money, Aramco. I know you’re good for it.

Disgusting

Because Europeans like expensive oil.

Damn, corporations bring down the planet!!!

Americans need to become less dependent on oil imports. More needs to be done to produce man-made fuels. And changing to electric vehicles isn't necessarily the best solution.

The Ukraine war has really cut into their profit margin.

I need shares in this company

Perhaps fuel can start coming down then?

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Saudi oil giant Aramco posts record $161.1 billion profit for 2022Saudi state-controlled Aramco achieved a record profit last year, boosted by higher energy prices and firmer sale volumes. Total gdp of Saudi Arabia $850bn, total sales of aramco $550bn… what if 50 of vehicles moves to electric… Saudi Arabia will be bankrupt… isn’t it? And you still think the war is about to end
Source: CNBC - 🏆 12. / 72 Read more »

Saudi Aramco reports record profit of $161.1 billion in 2022Saudi Arabian oil giant Aramco on Sunday reported a record net profit in 2022, boosted by higher energy prices, increased volumes sold and improved margins for refined products. Thanks to the world's oil dependency. That cannchopnandncut off the head of people with zero consequences cuz we all need their oil. Also, why did they give Jared and Ivanka $2 billion Classified secrets they REALLY wanted? Good for aramco in their astounding profits from selling oil which is STILL a RELIABLE SOURCE OF ENERGY. Unlike the renewable being pushed upon us. They profit while our pockets get hit with higher prices at the pumps.
Source: Reuters - 🏆 2. / 97 Read more »