Riyadh - Mubasher: The net losses of Saudi Aramco Total Refining and Petrochemical Company (SATORP) fell by 27.6% during the second quarter (Q2) of 2020 to reach SAR 343.9 million from SAR 474.9 million in the prior-year period, as announced by Arabian Aramco Total Services Company.
This decrease in losses is attributed to the full capacity operation of the firm's refinery, compared with the year-ago period when it underwent unplanned maintenance activities, according to a stock exchange filing on Thursday.
Revenues recorded SAR 4.9 billion in Q2-20, down by 50.8% when compared to SAR 10.1 billion in Q2-19.
In the first half (H1) of the year, the net losses totalled SAR 989.7 million, compared with SAR 422.4 million in H1-19.
