Majority state-owned oil company Saudi Aramco on Tuesday reported a 35% 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 $36.3 billion from $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% to $31.2 billion.