Saudi oil giant Aramco announces $121 billion profit last year, down from 2022 record

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 giant Aramco's profits dip after record 2022

The world's largest oil exporter reported 2023 profit equivalent to $121.25 billion in a stock market filing. It's a reduction of almost 25% compared to 2022, when Russia's invasion of Ukraine drove up oil prices.

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 reports $121.3B net income in 2023

Despite roughly 25% decline, this was 2nd-highest-ever net income, says oil major

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.

Saudi oil giant Aramco announces $121 billion profit last year, down from 2022 record

DUBAI, United Arab Emirates (AP) — Saudi oil giant Aramco on Sunday reported it made $121 billion in profit last year, down from its 2022 record due to lower energy prices. Aramco made the announcement in a filing in Riyadh's Tadawul stock market.