Higher oil prices boost Saudi Aramco profits despite disruption from attacks

Majority state-owned oil company Saudi Aramco on Tuesday reported a 35 per cent increase in third-quarter net profit as earnings were boosted by higher oil prices and the sale of its stake in a Malaysian refining and petrochemical company. Net profit rose to US$36.3 billion from US$26.9 billion in the year-earlier quarter. Adjusted net profit, which leaves out the sale of a stake in PRefChem to Malaysian state oil company Petronas, rose 9 per cent to US$31.2 billion.