Saturday, November 26, 2022

Thanks to high prices for record profits

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The company announced this over the weekend. Like other industry representatives, Aramco is also benefiting from record high oil prices against the background of the Ukraine war.

However, Aramco is also benefiting from increased production in contrast to many peers in the industry. Most oil companies are trying to reduce their greenhouse gas emissions and turn to alternative energies. Aramco, on the other hand, is investing heavily to increase oil production by 1 million barrels per day to 13 million barrels a day by 2027.

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