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Saudi Aramco Q3 net profit rises 35% on higher oil prices, stake sale
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 USD 36.3 billion from USD 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 USD 31.2 billion. The company also benefit…
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