Saudi Arabian Oil Co

2222: XSAU (SAU)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	SAR 65.00	Qfnv	Hlfmtxx

Aramco Caps Record Year, but Only a Modest Dividend Increase As Spending Set To Jump

Allen Good

Mar 14, 2023

Aramco reported record net income of $161.1 billion compared with $110.0 billion for full-year 2021 on higher oil prices and volumes and stronger refining margins. Total hydrocarbon volumes increased to 13.6 mmboe/d from 12.3 mmboe/d in 2021 as crude production increased to 11.5 mmboe/d from 9.2 mmboe/d in 2021.

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