Aramco has reported net income of $31.9 billion in the first quarter of 2023 vs $39.5 billion in Q1 2022.
Aramco President and CEO Amin H Nasser said: “The results reflect Aramco’s high reliability, focus on cost and our ability to react to market conditions, as we generate strong cash flows and further strengthen the balance sheet.”
“Our growth strategy remains on track and we made significant progress on the strategic expansion of our Downstream business during the quarter, announcing a key acquisition in the US as well as important investments and partnerships in China and South Korea.”