06 May 2013 05:06 [Source: ICIS news]
DUBAI (ICIS)--Saudi Arabia's Rabigh Refining and Petrochemical (Petro Rabigh) has restarted its 1.3m tonne/year ethane cracker and its derivative plants following a turnaround that began last month, the producer said on Sunday.
The company completed maintenance at its ethane cracker and the derivative plants and was conducting all safety procedures as required as it gradually restarted the units on 3 May, according to the producer’s statement to Saudi Stock Exchange.
The cracker and related units were shut on 22 April.
The company, a joint venture between Saudi Arabian Oil Co (Saudi Aramco) and Sumitomo Chemical, noted that margins would be negatively impacted by the plant shutdown.
“It is expected that this shutdown of the ethane cracker unit will have an estimated financial impact of a decrease by Saudi riyals (SR) 180m ($48m) in the net margin for the second quarter of 2013,” the company said.
“… figures are approximate as it is subject to the general economic situation and price fluctuations during the current period,” the company added.
In the last quarter from January to March, Petro Rabigh’s sales was reduced by power outages and scheduled maintenance and it posted its biggest quarterly loss of SR658.1m since 2009.
($1 = SR3.75)
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