Petro Rabigh A Powerful New Player

2010 was the first full year of commercial operations at Rabigh Refining and Petrochemical Co. (Petro Rabigh; Rabigh, Saudi Arabia), the manufacturing and marketing joint venture between Saudi Aramco and Sumitomo Chemical. Last year was also Petro Rabigh’s first year in profit. The company made a gross profit of SR728.7 million ($195.2 million) on sales of SR46.8 billion, of which SR39 billion were sales of refined products and SR7.8 billion were petrochemical sales. Net profit was SR208.7 million compared with a net loss of SR1.4 billion in 2009. Petro...

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