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The New Daily
The New Daily
Jon Gambrell

Oil giant Saudi Aramco announces $US161 billion profit

Saudi Aramco said its $US161 billion profit came on the back of higher crude oil prices. Photo: AP

Oil giant Saudi Aramco has announced it earned a $US161 billion ($245 billion) profit last year.

The firm, formally known as the Saudi Arabian Oil Co, said in its annual report that higher crude oil prices propelled its profits, which were a 46 per cent jump from a year earlier.

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