Saudi energy giant Aramco today announced its full-year 2022 financial results, reporting a record net income of $161.1 billion — its highest annual profits as a listed company. Aramco also declared a fourth quarter dividend of $19.5 billion, to be paid in the first quarter of 2023.
The exceptional financial performance was underpinned by stronger crude oil prices, higher volumes sold and improved margins for refined products, the company said in a press release, adding that it continues to strengthen its oil and gas production capacity, as well as its downstream portfolio, to meet anticipated future demand.
In 2022, Aramco’s average hydrocarbon production was 13.6 million barrels of oil equivalent per day (mmboed), including 11.5 million barrels per day (mmbpd) of total liquids.
Commenting on the results, Aramco president and CEO Amin Nasser, said:“Aramco delivered record financial performance in 2022, as oil prices strengthened due to increased demand around the world. We also continued to focus on our long-term strategy, building both capacity and capability across the value chain with the aim of addressing energy security and sustainability.”
He added that the focus for Aramco is not only on expanding oil, gas and chemicals production, but also investing in new lower-carbon technologies with potential to achieve additional emission reductions.