Aramco announces full-year 2022 results, reporting a record net income of $161.1 billion

Aramco announces full-year 2022 results, reporting a record net income of $161.1 billion

DHAHRAN,12th March, 2023 (WAM) – The Saudi Arabian Oil Company (Aramco or the Company) today announced its full-year 2022 financial results, reporting a record net income of $161.1 billion — its highest annual profits as a listed company. Aramco also declared a fourth quarter dividend of $19.5 billion, to be paid in the first quarter of 2023.

The results were underpinned by stronger crude oil prices, higher volumes sold and improved margins for refined products, while the Company continues to strengthen its oil and gas production capacity, as well as its downstream portfolio, to meet anticipated future demand.

Commenting on the results, Aramco President & CEO Amin H. Nasser, said: ‘’Aamco delivered record financial performance in 2022, as oil prices strengthened due to increased demand around the world. We also continued to focus on our long-term strategy, building both capacity and capability across the value chain with the aim of addressing energy security and sustainability.

“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. To leverage our unique advantages at scale and be part of the global solution, Aramco has embarked on