Saudi Aramco’s oil profits decline 45% in 2022, The Corona virus (COVID-19) pandemic has led to a decline in world oil interest. This makes the world’s oil companies suffer too. One of them is Saudi Aramco.
The goliath oil organization provided a Monday (22 March 2022) report by the BBC that its benefits fell sharply compared to 2022.
Throughout 2022 Saudi Aramco’s oil profits decreased by 45%, the organization still posted a profit of $49 billion, or about Rs 707 trillion (Rs 14,439) exchange scale. The organization also reports that it will distribute dividends to shareholders of $75 billion, or generally Rs. 1.082 trillion. The government of Saudi Arabia as the largest shareholder of Aramco will get the most dividends.
Aramco Oil Profits Drop in 2022
This is seen by the organization as the most difficult year ever. The reason is, due to restrictions on movement in various countries, the company is facing a sharp decline in world oil prices, which has hampered industry and various activities. It has also subverted interest in oil.
Other large oil and gas companies such as Royal Dutch Shell and BP also posted lower profits. Frankly, Exxon Mobil, the largest US energy organization, recorded its first annual loss.
Oil prices have risen slightly since December to $64.53 a barrel, especially for unrefined Brent. This is triggered by the continuous inoculation process in various countries. Most of the dividends come from the government of Saudi Arabia as the largest shareholder in Aramco.
The year 2022 is seen by the organization as the most difficult year ever. The reason is, due to restrictions on movement in various countries, the company is facing a sharp decline in world oil prices, which has hampered industry and various activities. It has also subverted interest in oil.
Other large oil and gas companies such as Royal Dutch Shell and BP also posted lower profits. Frankly, Exxon Mobil, the largest US energy organization, recorded its first annual loss.
Oil prices have risen slightly since December to $64.53 a barrel, especially for unrefined Brent. The trigger is the continuous immunization process in various countries.
Amin Nasser, CEO of Saudi Aramco, said the organization anticipates a positive move in 2022.
“We are seeing increasing popularity in Asia and positive signs in many countries. We believe this situation will continue as government policies and institutions around the world continue the economy,” said Nasser.
Unfortunately, Saudi Aramco’s oil also has a different set of challenges. On Friday, March 19, the organization witnessed two robotic attacks that damaged one of its refineries due to Saudi involvement in the Yemen war.
All things considered, Nasser said the processing plant was back in operation hours after the fact and the organization had emergency measures in place to deal with the attack.
