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Oil company Saudi Aramco has reported earning $161bn (£134bn) last year - the highest-ever recorded annual profit by a publicly listed company

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Oil company Saudi Aramco has reported earning $161bn (£134bn) last year - the highest-ever recorded annual profit by a publicly listed company.

Coming at a time of spiking energy prices as a result of the conflict in Ukraine, profits rose 46.5% when compared to the company's 2021 results of $110bn (£91.4bn).

The profit by the Saudi firm, known formally as the Saudi Arabian Oil Co, came as Western sanctions limited the sale of Russian oil and natural gas.

A vast majority of Saudi Aramco shares are owned by the Saudi government despite it being publicly listed.

 

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