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Saudi oil giant posts monster profits
Saudi Aramco raked in over $160 billion thanks to price spikes last year Oil giant Saudi Aramco reported record-high earnings for 2022, made off higher crude prices. According to a company press release issued on Sunday, Aramco’s profits surged to $161 billion last year, up 46% from the $110 billion it made in 2021. Aramco, the world’s second most valuable firm, said the numbers represented its “highest annual profits as a listed company.” Aramco’s earnings nearly matched the combined figure for the so-called Big Oil majors Shell, BP, Exxon Mobil, Chevron, and TotalEnergies. The oil giants all reported record prof

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