Saudi Aramco, an oil giant almost entirely owned by the government of Saudi Arabia, announced Sunday that it brought in a staggering $161.1 billion in profits last year as it joined other fossil fuel companies in capitalizing on energy market turmoil sparked by Russia's invasion of Ukraine.The company's profit figure for 2022 is the largest ever recorded by an oil corporation.
'This represents a 4.0% increase compared to the previous quarter, aligned with the company's dividend policy aiming to deliver a sustainable and progressive dividend. Additionally, the Board of Directors also recommended the distribution of bonus shares to eligible shareholders in the amount of one share for every 10 shares held.
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