Net profit reached $110 billion for the year ended Dec. 31, up from $49 billion a year earlier.
Analysts had forecast net profit of $106 billion in 2021, according to Refinitiv’s Eikon analyst average estimate.
Brent crude oil futures ended 2021 up 50.5%, its biggest gain since 2016. Oil prices jumped above $100 a barrel last month after the invasion Ukraine by Russia, which Moscow describes as a “special operation.”
($1 = 3.7515 riyals)