Saudi Aramco reports 46% jump in profits for 2022

SAUDI Aramco reported today that profits jumped 46% last year, highlighting how a surge in oil prices after Russia invaded Ukraine spurred growth in the world’s biggest crude exporter. 

The mostly state-owned energy giant, the world’s second most valuable company behind Apple, said in a filing with the Saudi stock market that net income for 2022 was US$161.07 billion (RM727.96 billion), up from US$110 billion in 2021.