Saudi oil giant Aramco announces $121 billion profit last year, down from 2022 record
- Saudi Arabia's state oil giant Aramco reported a 25% decline in profit to $121.3 billion in 2023.
- Aramco confirmed it would halt plans to raise its oil production capacity from 12 million to 13 million barrels per day.
- Aramco aims to increase gas production by over 60% by 2030, with investments in gas and its Jafurah project.
54 Articles
54 Articles
Aramco, Saudi Arabia's state oil company, saw profits drop 25% in 2566, but still holds the highest record at second place for the company.
Saudi oil group Aramco on Sunday reported a 24.7 percent drop in net profit in 2023 compared with 2022, amid falling oil prices and declining production, AFP reports.
Saudi oil giant Aramco announced today that it achieved a profit of $121 billion last year, a decrease compared to the record achieved in 2022 due to lower energy prices.
Saudi Aramco profit falls to USD 121.3 bn due to lower oil prices
Saudi Arabia's state-owned oil giant Aramco said on Sunday it boosted its dividends last year despite net profit falling to $121.3 billion from a record $161.1 billion in 2022 on lower oil prices. The profit was still the company's second-highest on record, it said. Aramco boosted total dividends for the year by 30% to $97.8 billion.
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