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Petro Rabigh reports major second-quarter loss due to cracker outage, transport bottlenecks

9:03 AM MDT | July 22, 2013 | Natasha Alperowicz

Petro Rabigh (Rabigh, Saudi Arabia), a joint venture between Saudi Aramco and Sumitomo Chemical, reports a net loss of 236.7 million Saudi riyals ($63.1 million) in the second quarter of this year compared with a net loss of SR104.4 million in the year earlier period. However, this was a slightly improved performance sequentially. The company had a net loss of SR658.1 million in the first quarter. The company reports an operating loss of SR210.9 million in the second quarter compared with a loss of SR62.2 million a year earlier and a loss of SR628.5 million in...

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