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Regions :: Middle East :: Saudi Arabia

Petro Rabigh to boost revenues with new feedstock and marketing deal

7:48 AM MST | December 16, 2013 | Natasha Alperowicz

Petro Rabigh (Rabigh; Saudi Arabia) and its parents, Saudi Aramco and Sumitomo Chemical, have agreed a number of measures aimed at boosting Petro Rabigh’s financial performance, Petro Rabigh said on Sunday. The company plans to boost its revenues by 1 billion Saudi riyals ($267 million) this year following an agreement by its parent companies to cut international marketing fees by one-third. In addition, Aramco has agreed to supply Petro Rabigh with 50 million cubic feet/day of methane gas, or equivalent, at the prevailing Saudi prices.     The...

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