Riyadh – Mubasher: The interim financial results of Rabigh Refining and Petrochemical Company showed SAR 1.797 billion worth of losses in the first quarter (Q1) of 2020, against a net profit of SAR 257 million in Q1-19.

Losses are attributed to the complete halt of the company’s industrial complex for 60 days, starting 1 March 2020, for previously scheduled periodic maintenance.

Weakened global demand due to the coronavirus (COVID-19) pandemic led to lower margins and contributed to the quarterly losses, according to the company’s disclosure on Tuesday.