Aramco, the largest oil company in Saudi Arabia, has announced a record profit of $161.1 billion (£134 billion) for 2022, aided by rising energy prices and higher volumes.
In comparison to last year, it marks a 46.5% increase for the state-owned business.
With the surge in energy costs brought on by Russia’s all-out invasion of Ukraine in February 2022, it is the most recent energy company to announce record earnings.
ExxonMobil in the US made $55.7 billion, and Shell in the UK made $39.9 billion.
Aramco also announced a $19.5 billion dividend for the October to December 2022 quarter, which will be paid in the first three months of this year.
The Saudi Arabian government, which holds about 95% of the company’s shares, will receive the lion’s share of that dividend sum.