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Petro Rabigh turns to losses for 2019

Petro Rabigh turns to losses for 2019
Annual net losses reached SAR 544 million
2.49% 13.98 0.34

Riyadh – MubasherRabigh Refining and Petrochemical Company (Petro Rabigh) reported SAR 544 million in net losses for last year, against profits of SAR 669 million in 2018.

The company attributed the change in its financial results to lower profit margin, according to a statement to the Saudi Stock Exchange (Tadawul) on Thursday.

Global circumstances also led to lower demand, which pressured the company’s prices and resulted in a more-than-expected decline, despite Petro Rabigh maintaining its best performance sustainability year around.