Saudi Aramco posts highest earnings among listed companies in 2022
[ad_1]
At the end of 2022, the profit of the oil company Saudi Aramco amounted to a record $161 billion, which is 46.5% more than the same indicator in 2021. The company will also pay a $19.5 billion dividend for the fourth quarter of 2022. This is stated in the financial report (.pdf) Saudi Aramco.
Saudi Aramco noted that it has received the highest annual profit among companies listed on the exchange. Saudi Aramco also added that they received such income thanks to higher oil prices, sales volume and improved refining margins.
Saudi Aramco’s free cash flow increased by 38% year-on-year to $148.5 billion. Capital expenditures increased by 18% to $37.6 billion. By the end of 2023, the company expects this figure to grow to $45-55 billion.
The average production level for the year was 3.6 million barrels per day of oil equivalent, which is 10.6% more than in 2021. The volume of production of liquid hydrocarbons reached 11.5 million bpd.
In February and March, Saudi Aramco raised oil prices for Europe and Asia. In early March, the price of Arab Light, the main oil grade, rose $2.5 per barrel above the regional benchmark and 50 cents above the March level.
[ad_2]
Source link
