Saudi Arabia’s PetroRabigh posts net loss in Q1
by ChemOrbis Editorial Team - content@chemorbis.com
According to media reports, Saudi Arabia’s PetroRabigh, a joint venture between Saudi Aramco and Japan’s Sumitomo Chemical, posted a net loss of 32.7 million riyals ($8.7 million) in the first quarter of this year compared with a net profit of 205.4 million riyals in the same period of 2015.
The weaker financial results for the quarter were attributed to lower sales volumes stemming from the gradual restart of the company’s plants following maintenance in the preceding quarter.
The weaker financial results for the quarter were attributed to lower sales volumes stemming from the gradual restart of the company’s plants following maintenance in the preceding quarter.
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