Aramco: Saudi state-owned oil giant sees record profit of $161bn

Saudi oil giant Aramco has announced a record profit of $161.1bn (£134bn) for 2022, helped by soaring energy prices and bigger volumes.

It represents a 46.5% rise for the state-owned company, compared with last year.

It is the latest energy firm to report record profits, after energy prices spiked following Russia's full-scale invasion of Ukraine in February 2022.

America's ExxonMobil made $55.7bn, and Britain's Shell reported $39.9bn. read more