Riyadh – Mubasher: Arabian Aramco Total Services Company announced that its parent company, Saudi Aramco Total Refining and Petrochemical Company (SATORP), recorded a 304.2% increase in net losses in 2020 to SAR 2.59 million, from SAR 641, 655 in 2019.
Losses per share increased to SAR 3.14, from SAR 0.78 in the previous year, according to the company’s annual financial results disclosed to the Saudi Stock Exchange (Tadawul) on Thursday.
The higher losses are attributed to the major planned maintenance activities by the refinery, which reduced the overall processing capacity, alongside the decrease in refining and petrochemical margins.
