Aramco, Saudi Arabia's national oil company, posted a 25% profit drop in 2023, but it was still the company's second highest on record.
Foreign news agencies reported on March 10, 2024 that 'Aramco', the national oil company of Saudi Arabia. Revealing the results for the year 2023, it appears that the company's profits in that year dropped by 25% to 121 billion US dollars (approximately 4.28 trillion baht) after the previous year made a record-breaking profit for the company.
The profit decline comes after Aram Gold cut oil production. and oil prices drop significantly in 2023. However, this figure is still the second-highest profit the company has ever made.
Aramco also stated that Even though profits are decreasing But they paid more dividends to shareholders, to US$98 billion. or nearly 1 in 3 more than in 2022. In addition, they are also looking for investment opportunities in China. that the demand for black oil is also growing steadily
In 2022, Aramco made a profit of US$161 billion. Due to the effects of the war between Russia and Ukraine causing oil prices to skyrocket At one point it touched 130 US dollars per barrel, but in 2023 the price of oil dropped back down to around 85 US dollars per barrel. This caused Aramco to reduce production capacity to support oil prices.
