Oil giant Saudi Aramco notches up nearly £134bn profit in 2022

Oil giant Saudi Aramco has reported that it made a 161 billion US dollar (£133.8 billion) profit last year (Greg Guy/Alamy/PA)

Oil giant Saudi Aramco has reported that it made a 161 billion US dollar (£133.8 billion) profit last year.

The firm, known formally as the Saudi Arabian Oil Co, said in its annual report that higher crude oil prices propelled its profits.