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Aramco made $121.3 billion in net profit last year

Saudi Arabian Oil Co., known as Aramco, said that it made $121.3 billion in net profit last year, compared with $161.1 billion in 2022, when oil prices swelled the company’s coffers to a new record. Aramco said it produced 12.8 million barrels of oil equivalent on average a day in 2023, compared with 13.6 million in 2022. The company also said it aims to increase natural-gas production more than 60% by 2030 compared with 2021 levels.

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