Saudi Arabia’s PetroRabigh posts loss in Q3
by ChemOrbis Editorial Team - content@chemorbis.com
According to media sources, Saudi Arabia’s Rabigh Refining and Petrochemical (PetroRabigh) which is a joint venture between Saudi Aramco and Japan’s Sumitomo Chemical reported a loss of SAR217 million ($57.9 million) in the third quarter of this year compared with a loss of SAR460 million ($122.6 million) in the same period of 2015.
Total sales of the company decreased 4% to SAR6.38 billion due to falling product prices which were the result of the rapid decline in oil prices.
Total sales of the company decreased 4% to SAR6.38 billion due to falling product prices which were the result of the rapid decline in oil prices.
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