Petro Rabigh to halt Saudi refinery operations for necessary maintenance
By SUMMER SAID
CAIRO -- Saudi's Rabigh Refining and Petrochemical Co., or Petro Rabigh, said Tuesday it will halt operations at its refinery for 20 days to carry out necessary maintenance after it suffered a power cut.
The maintenance, which will ensure the reliability of the facilities, won't have a significant impact on Petro Rabigh's earnings due to lower petrochemical prices and the profit margins from petroleum products, it said in a statement posted on the Saudi bourse website.
Petro Rabigh said Saturday that supplies of power and steam had been interrupted from provider Rabigh Arabian Water and Electricity Co., which forced the firm to stop its operations.
The firm utilizes 400,000 bpd of crude oil and 1.2 million tpy of ethane as primary feedstock to produce several refined petroleum products and petrochemical products.
The refinery has mainly been producing 8 million tons of heavy oil, 5.3 million tons of light oil, 3 million tons of naphtha and 2.6 million tons of kerosene a year.
State-owned Saudi Arabian Oil Co., or Saudi Aramco, and Japan's Sumitomo Chemical Co. each hold a 37.5% stake in Petro Rabigh, with the remaining 25% owned by the public, according to Zawya.com.
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