Riyadh-Mubasher: Rabigh Refining and Petrochemical registered a decline of 79.56% in profits of the second quarter this year as compared to the same quarter in 2015.
Earnings shrank to SAR 103.2 million in Q2-16 from SAR 504.9 million ($134.68 million) in Q2-15, according to a bourse statement issued on Sunday.
During the first half of 2016, Petro Rabigh posted a plunge of 90% in profits to SAR 70.5 million from SAR 710.3 million in H1-15.
Petro Rabigh clarified that the decrease in profits was due to lower prices in petrochemical products.
