Oil giant Saudi Aramco reported earning $161 billion last year, claiming the highest-ever recorded annual profit by a publicly listed company. The profit by the firm came off the back of energy prices rising after Russia launched its war on Ukraine.
Saudi Arabia is gambling on a gargantuan building boom to remake its image and economy, but history offers cautionary tales over such ambitions.
Those revenues also can go into Riyadh Air, a new airline announced Sunday by Mohammed that will be under the kingdom’s Public Investment Fund and plans to fly to over 100 destinations by 2030. The Wall Street Journal, citing anonymous sources, reported Saudi Arabia may purchase up to $35 billion worth of planes from Boeing Co.
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Oil giant Saudi Aramco made a historic $161 billion profit last yearSaudi Aramco reports earning $161 billion last year, claiming the highest-ever recorded annual profit by a publicly listed company.
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Four takeaways as oil giant Saudi Aramco reports a huge $161 billion profitThe world's biggest oil company says it made $161 billion in profits in 2022 — a whopping figure for its main shareholder, the Saudi government. Reporter ayaelb has 4 takeaways on what that means.
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Saudi Aramco Posts Record $161 Billion Profit for 2022Saudi Arabia’s national oil company also raised its dividend, as it benefited from high oil prices fueled by the war in Ukraine.
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Oil giant Saudi Aramco makes a historic $161B profit in 2022Oil giant Saudi Aramco says it earned $161 billion last year, claiming the highest-ever recorded annual profit by a publicly listed company and drawing immediate criticism from activists.
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Oil giant Saudi Aramco has profits of $161B in 2022DUBAI, United Arab Emirates (AP) — Oil giant Saudi Aramco said Sunday it earned a $161 billion profit last year, attributing its earnings to higher crude oil prices. The firm, known formally as the Saudi Arabian Oil Co., said in its annual report that the profit represented “its highest annual profits as a listed company.'
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