Element List |
Explanation |
The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year |
Total revenue of SAR 1,653.28 billion ($440.88 billion) for the year ended December 31, 2023, compared to SAR 2,006.96 billion ($535.19 billion) for the year ended December 31, 2022. The decrease was primarily attributable to lower crude oil prices and lower volumes sold, as well as lower refining and chemicals products prices. |
The reason of the increase (decrease) in the net profit during the current year compared to the last year is |
Net income of SAR 454.76 billion ($121.27 billion) for the year ended December 31, 2023, compared to SAR 604.01 billion ($161.07 billion) for the year ended December 31, 2022. The decrease mainly reflects the impact of lower crude oil prices and lower volumes sold, and weakening refining and chemicals margins. This was partially offset by a decrease in production royalties, and lower income taxes and zakat. |
Statement of the type of external auditor's report |
Unmodified opinion |
Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) |
None |
Reclassification of Comparison Items |
None |
Additional Information |
-Given the nature of Saudi Aramco’s business in exploring, prospecting, drilling and extracting hydrocarbon substances (upstream), Saudi Aramco’s consolidated statement of income does not include gross profit. -Other income related to sales was SAR 203.09 billion (2022: SAR 259.42 billion) for the year ended December 31, 2023. As a result, revenue and other income related to sales amounted to SAR 1,856.37 billion (2022: SAR 2,266.37 billion) for the year ended December 31, 2023. |
Attached Documents |
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Comments