“Saudi Aramco” earned 161.1 billion dollars in 2022 – #Saudi #Aramco #earned #billion #dollars
DUBAI, March 12 (Reuters) – Saudi Arabian oil giant Aramco ( 2222.SE ) on Sunday posted a record 2022 annual net profit of 161.1 billion dollars arranged that this is high energy prices, 46% more than the previous year as a result of increased sales volume and improved margin. for refined products.
56 of Exxon billion Earnings nearly three times the dollar, BP ( BP.L ), Shell ( SHEL.L ) and Chevron ( CVX.N ) posted record earnings after similar reports in February. for last year.
Oil prices It swung wildly in 2022, rising on geopolitical concerns amid the war in Ukraine, then slipping on weak demand from top importer China and worries about a global economic contraction.
“Given that we predict oil and gas will remain important for the foreseeable future, the risks of underinvestment in our industry are real, including leading to higher energy prices,” Aramco CEO Amin Nasser said in the results statement.
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To address these issues, Nasser said, the company is investing in new low-carbon technologies that have the potential to achieve additional emissions reductions.
Plans to increase crude oil production capacity to 13 million barrels per day (bpd) by 2027 are on track, the statement said.
Aramco’s capital spending to rise 18% to 37.6 in 2022 billion and the company said it expects this year’s spending to be between $45.0 billion and $55.0 billion, including foreign investments.
19.5 billion for Aramco’s fourth quarter, up 4% from the previous quarter dollars declared a dividend.
Its board has also recommended the issue of bonus shares, which the entitled shareholders will be entitled to each 10 let them buy a share for a share.
Free cash flow reached $148.5 billion in 2022, compared to $107.5 billion in 2021.
As Russia’s intervention in Ukraine last March increased the global flow of crude oil prices Brent, the international benchmark, rose 20139.13 at its highest since ’08 dollars/reached the barrel. In the second half of 2022, with central banks raising interest rates and increasing recession concerns prices cooled rapidly.
The Saudi-led OPEC+ producer alliance agreed to cut output by 2 million barrels from November last year until the end of 2023 to support the market.
Decision USA and other Western countries, but since then market dynamics have shown that oil prices will rise in 2022 10From highs above $0 to close to $80 a barrel, the declines showed caution.
Reporting by Hadeel Al Sayegh and Maha El Dahan; Edited by Raissa Kasolowsky
Our standards: Thomson Reuters Trust Principles.
2023-03-12 16:25:53
Source – reuters
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