Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Al Mayadeen's correspondent in South Lebanon: Israeli drone strikes town of Harouf, Nabatieh district.
Factions' statement: The attendees agreed to support and continue implementing the ceasefire agreement measures, including the withdrawal of the occupation and lifting the siege.
Factions' statement: Calling for an end to all forms of torture and violations against prisoners in occupation prisons and the necessity of obligating the occupation to do so.
Statement: The current moment is crucial, making the meeting a true turning point toward national unity in defense of our people and their right to life, dignity, and freedom.
Factions' statement: Call for an urgent meeting of all Palestinian forces and factions to agree on a national strategy.
Factions' statement: Continuing joint work to unify visions and positions to confront the challenges facing the Palestinian cause.
Statement of the factions: Emphasis on the unity of the Palestinian political system and the independent national decision.
Statement: Approval to establish an international committee to oversee the financing and implementation of the reconstruction of the Gaza Strip.
Statement: The committee is responsible for managing life and services in cooperation with Arab brothers and international institutions, based on transparency and accountability.
Resistance factions' statement: Agreement to hand over the administration of the Gaza Strip to a temporary Palestinian committee of independent technocrats.

Aramco's net worth increased by 270% in Q3

  • By Al Mayadeen English
  • Source: Agencies
  • 1 Nov 2022 13:29
3 Min Read

Aramco's net worth increases to reach $130.3 billion in its third quarter as per the issued financial report for 2022.

  • x
  • Aramco's net worth increases to $130.3 billion in third quarter (Reuters)
    Aramco's net worth increases to $130.3 billion in third quarter (Reuters)

In the third quarter of 2022, according to the financial report issued on Tuesday, the Kingdom of Saudi Arabia's Aramco net worth increased by 1.7 times year over year to reach $130.3 billion.

The report read that the "net income for the first nine months of 2022 was SAR 488,784 ($130,342), compared to SAR 290,998 ($77,600) for the same period in 2021. The increase predominantly reflects the impact of stronger crude oil prices and volumes sold, and higher refining margins."
 
Income growth, according to the newly released report, was "partially offset by an increase in production royalties mainly resulting from higher average effective royalty rate driven by stronger crude oil prices, and higher sales volume." 

#Aramco’s strong Q3 2022 earnings and record free cash flow reflects our ability to generate significant value through our low-cost, lower-carbon intensity upstream production and strategically integrated upstream and downstream businesses
#AramcoResults

— aramco (@aramco) November 1, 2022

It also stated that initially, the company's free cash flow for the third quarter of 2022 was anticipated to be $110.2 billion, which is 1.6 times more than its equivalent period in 2021.

KSA's Aramco, the country's state-owned oil firm, was established in 1933 and has its headquarters there. It is worth noting that almost all of the country's oil-producing facilities are under the company's control.

Related News

Sanaa rejects Aden's allegations of detaining a Yemeni jet: Exclusive

Two Yemeni citizens killed by Saudi-led coalition shelling in Saada

Read more: US executives flocking to Saudi Davos despite US-Saudi tension: NYT

Aramco works with Wall Street advisers for Riyadh listing

KSA's Aramco, according to sources with knowledge of the situation, decided to move forward with preparations for an Initial Public Offering (IPO) of its energy trading division, which would be one of the biggest share sales this year.

The biggest oil company in the world has, since May, appointed three Wall Street firms to be primary advisors, according to Bloomberg News. The goal is to work towards a listing, either by the end of the year or early in 2023, in Riyadh.

Sources claim that the IPO, which Aramco is now broadening to include additional banks in, may value the unit at more than $30 billion.

Given market fluctuation, however, especially in a case of a deteriorating market economy, the IPO may be postponed or even canceled. As of yet, there has been no final decision, the sources claim.

Although weakening economies and increasing interest rates have impacted the global IPO market, Saudi Arabia still has a strong demand for deals. However, the diplomatic spat that recently emerged between Saudi Arabia and the US could threaten the financial stability of the Gulf.

Read more: WH considers recommending US firms of pulling out from Saudi Arabia

  • Saudi Aggression on Yemen
  • Saudi Aramco
  • KSA
  • OPEC+
  • Aramco
  • Saudi Arabia

Most Read

From previous scenes of the Qassam Brigades targeting an Israeli D9 bulldozer with a Yassin 105 shell, east of Deir al-Balah. (Military Media of the Qassam Brigades)

US knew fatal Rafah blast cause was not Hamas op., says journalist

  • Politics
  • 20 Oct 2025
'Israel’s Digital Iron Dome: Weaponizing the web against Palestine

'Israel’s Digital Iron Dome: Weaponizing the web against Palestine

  • Technology
  • 24 Oct 2025
Abu Hamza, the spokesperson for the Al-Quds Brigades, during a speech televised on October 22, 2025 (Al-Quds Brigades Military Media)

Al-Quds Brigades' Abu Hamza mourns leaders, vows continued resistance

  • Politics
  • 22 Oct 2025
US missionary kidnapped in Niger capital, suspected taken toward Mali

US missionary kidnapped in Niger capital, suspected taken toward Mali

  • Africa
  • 23 Oct 2025

Coverage

All
War on Gaza

Read Next

All
Flags of Iran, Russia, and China (IRNA)
Politics

Russia, China, Iran send joint letter to IAEA on Resolution 2231 end

Rubio says UNRWA to play no role in Gaza aid deliveries
Politics

Rubio says UNRWA to play no role in Gaza aid deliveries

Tents are seen at UN school used as a shelter for displaced Palestinians in Khan Younis, Tuesday, September 30, 2025. (AP Photo/Jehad Alshrafi)
Politics

UN warns of 'lost generation' amid Gaza education crisis

x
Politics

White House pushes to repeal US sanctions on Syria: Report

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS