RIYADH, March 12 — Saudi Aramco reported today that profits jumped 46 per cent last year, highlighting how a surge in oil prices after Russia invaded Ukraine spurred growth in...
RIYADH, March 12 — Saudi Aramco reported today that profits jumped 46 per cent last year, highlighting how a surge in oil prices after Russia invaded Ukraine spurred growth in the world’s biggest crude exporter.
The increase was “predominantly due to the impact of higher crude oil prices and volumes sold, and stronger refining margins,” it said. They also fuelled Saudi Arabia’s overall economic growth which officials put at 8.7 per cent in 2022, the highest rate in the G20.
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