(MENAFN) Saudi Rabigh Refining & Petrochemical Company posted USD54.8 million net profit in the first quarter of the year, marking 50.3 percent decline due to falling margins, Reuters reported.
The company, which produces and markets refined hydrocarbon and petrochemicals, said that the profit contrasts with the USD110.1 million made in the corresponding period a year ago.
PetroRabigh, which is a joint venture formed by Saudi Aramco and Japan's Sumitomo Chemical, put the blame on its declining marginal profits.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.