Q4 breaks the downtrend
Petro Rabigh swung to a net profit of SAR183m in the fourth quarter of 2016 from a loss of SAR1.01bn in the same quarter a year earlier. The petrochemicals producer reported a net profit of SAR37m in 2016, versus net losses of SAR759m a year earlier. In 2016, revenues decreased by 1.4% to SAR25.146bn compared to the previous year.Rabigh Refining and Petrochemical Company is engaged in the development, construction and operation of an integrated refining and petrochemical complex, including the manufacturing of refined and petroleum products.
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