VIDEO: CEO highlights 2022 achievements that helped lead to strong financial results
Amin Nasser points to a continued bright future as we work toward a practical and inclusive global energy transition.
For Aramco, 2022 was a year like another with significant achievements on a number of fronts.
On the financial side, we recorded our highest annual profit as a listed company, even as headwinds persisted in the global economy.
The strength of our earnings and cash flows in 2022 meant that we were able to, once again, deliver exceptional returns to our shareholders.
Throughout the year, we maintained our long-standing emphasis on having a robust balance sheet as well as prudent cash and debt management.
Operationally, we also embarked on the largest capital expenditure program in our company's history. We are increasing oil and gas production capability to meet rising demand, as well as expanding our downstream operations and growing our global chemicals business.
In addition to supplying our customers around the world reliable energy today, we are also positioning ourselves to provide lower-carbon energy in the future.
This includes moving more of the Kingdom's oil and gas production into noncombustible uses, which fits well with the growth of our chemicals business.
We are also developing blue hydrogen capabilities, as well as building one of the world's largest carbon capture and storage hubs here in Saudi Arabia.
Indeed, we see the shift to a lower-carbon energy future as not just an obligation for energy producers and consumers alike, but also an obvious opportunity for Aramco as one of the most reliable suppliers, lowest-cost, and least carbon-intensive producers of crude oil in the world.
We believe Aramco will be a key player in a practical, stable, and inclusive global energy transition.