Chevron Corp reported a higher fourth-quarter profit, lifted by the sharp rise in oil prices and the sale of its ownership stake in a pipeline company.

Profit rose to $5.3 billion, or $2.64 per share, from $3.1 billion, or $1.53 per share, a year before.

(Reporting by Matt Daily, additional reporting by Braden Reddall in San Francisco, editing by Dave Zimmerman)