Saudi Aramco's 2021 net profit exceeds $100 billion

The world’s largest oil company, Saudi Aramco, released its financial report on the morning of the 20th local time, showing that the company’s net profit in fiscal 2021 was 412 billion riyals (about 109.8 billion U.S. dollars), up 124% from the previous fiscal year. Saudi Aramco’s total revenue in fiscal 2021 was 1,346.9 billion Saudi riyals, or about $359 billion, an increase of more than 75% over the previous year.

According to the analysis of the financial report, the increase in revenue and profit is mainly due to the increase in crude oil prices, the integration of the chemical business segment and the improvement of the profit margin of the refining and chemical business segment. The financial report also announced that in the fourth quarter of 2021, a cash dividend of 70.33 billion riyals (about 18.74 billion US dollars) will be distributed to the company's shareholders.