RIYADH: A 10-day power cut at Saudi Arabia’s PetroRabigh petrochemical complex will have a 124 million-riyal ($33.1 million) impact on the company’s second-quarter results, it said on Tuesday. PetroRabigh, a joint venture between Saudi Aramco and Sumitomo Chemical, did not specify in a statement to the bourse whether this amount referred to revenue or profit.
All of the units at the petrochemicals complex resumed operations on May 29, except for two linear polyethylene units, which were still being put back into operation, the company said. The interruption, which started on May 19, was caused by a cut in the main power supply lines by one of the contractors working on the company’s phase II expansion. PetroRabigh reported a net profit of 504.9 million riyals in the second quarter of 2015.
