DUBAI (Reuters) – Saudi Aramco posted a record net profit of $161.1 billion in 2022, up 46% from the previous year, it said on Thursday. Soaring energy prices, increased sales volumes, and expanded refining margins provided tailwinds.
Free cash flow in 2022 also hit a record high of $148.5 billion, up from $107.5 billion a year earlier.
Capital spending rose 18% to $37.6 billion. It expects to make around $45 billion to $55 billion this year, and is on track to boost production capacity to 13 million barrels per day by 2027, he said.
Amin Nasser, meanwhile, said, “For the foreseeable future, we assume that oil and gas will continue to be a vital (source of energy), so there is no risk of underinvestment across the industry. It’s realistic,” he said. In order to solve these problems, it revealed that it is also investing in new low-carbon technologies that can further reduce greenhouse gas emissions.
The dividend for the fourth quarter of 2022 was $19.5 billion, up 4% from the previous quarter.
