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Petro Rabigh seeks compensation and terminates agreement with utility supplier following blackouts
3:48 AM MDT | September 19, 2013 | Natasha Alperowicz
Rabigh Refining and Petrochemical Co. (Petro Rabigh) said on Wednesday that it has given notice to its utilities supplier Rabigh Arabian Water and Electricity Co. (RAWEC) seeking to terminate agreement between the two partners. The move follows two power blackouts on 29 December 2012 and on 11 September 2013. Petro Rabigh is seeking to transfer ownership of RAWEC’s assets to Petro Rabigh, which will enable Petro Rabigh, a joint venture between Saudi Aramco and Sumitomo Chemical, to manage the power, steam and other RAWEC facilities and improve energy...
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