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Saudi Oil Giant Reports Largest-Ever $161 Billion Profit in 2022

HeadlineMar 13, 2023

Saudi Aramco has reported profits of over $161 billion last year, the largest-ever annual profit for any fossil fuel company. Agnès Callamard, secretary general of Amnesty International, said the figure was “shocking,” and called on Saudi Arabia, which owns almost all of Saudi Aramco, to phase out fossil fuels and use the exorbitant profits from its oil sales to support human and environmental rights. Other major oil companies also reported record revenues in 2022 as demand surged amid the war in Ukraine.

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