Petro Rabigh restarts Saudi refinery operations as power supply restored

By ELLEN KNICKMEYER

RIYADH -- Petro Rabigh said the supply of power and steam supplies has been restored, after a sudden cut late last week halted operations at its refinery.

The interruption of power supply from the provider RAWEC damaged some of the ovens in an ethane cracker unit, but did not harm the complex's unit for refining crude oil, Petro Rabigh said in a statement posted on the Saudi bourse website.

Repairs and lost production will cost about $66.7 million, which will appear in the third quarter of this year, the company noted.

Production in the undamaged units are starting up again this week, Rabigh said, adding repairs and maintenance on the damaged equipment is expected to last 16 days.

Saudi Aramco and Japan's Sumitomo Chemical each hold a 37.5% stake in Petro Rabigh, with the remaining 25% owned by the public.

Dow Jones Newswires

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