<
https://www.theguardian.com/business/2023/mar/12/saudi-aramco-161bn-profit-is-largest-recorded-by-an-oil-and-gas-firm>
"Saudi Aramco has reported a record $161bn (£134bn) profit for 2022, the
largest annual profit ever recorded by an oil and gas company, fuelled by
soaring energy prices and rising global demand.
The largely state-owned company’s profits rose by 46% year on year and it made
more than the recent bumper results reported by Shell, BP, Exxon and Chevron
combined.
“Aramco delivered record financial performance in 2022, as oil prices
strengthened due to increased demand around the world,” said Amin Nasser, the
chief executive of Saudi Aramco, which is listed on the Riyadh stock exchange.
The world’s biggest oil company, which is 95%-owned by the Saudi Arabian
government, declared a $19.5bn dividend after its fourth-quarter trading.
Its board has also recommended the issuance of bonus shares, with investors
receiving an extra share for every 10 they currently own.
While oil and gas companies are enjoying bumper results because of the impact
of factors such as the war in Ukraine – with bosses taking home “jaw dropping”
pay packages as a result – Saudi Aramco’s performance dwarfs its rivals.
The company’s profits for last year are almost triple that of Exxon’s $56bn and
more than four times that of Shell ($39.9bn), Chevron ($36.5bn) and BP
($27.7bn), most of which are also performing at record levels."
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
