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Chemical Week Magazine :: Business & Finance :: Europe/Mideast

Petro Rabigh terminates pact with utility supplier, seeks compensation

11:34 AM MDT | September 23, 2013 | —Natasha Alperowicz

Petro Rabigh says it has given notice to its utilities supplier, Rabigh Arabian Water and Electricity Co. (Rawec), seeking to terminate the agreement between the two companies. The move follows power blackouts on 29 December 2012 and 11 September 2013. The latest outage caused damaged to some of the ethane cracker furnaces at Petro Rabigh’s manufacturing complex at Rabigh, Saudi Arabia. Petro Rabigh is seeking to transfer ownership of Rawec’s assets to Petro Rabigh, which would enable the latter to manage Rawec’s power, steam, and other...

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