Petro Rabigh
 | |
| Company type | Public |
|---|---|
| ISIN | SA120GAH5617  |
| Founded | 2005 |
| Founder | Saudi Aramco Sumitomo Chemical |
| Headquarters | 22°42′35″N 39°1′19″E / 22.70972°N 39.02194°E, , |
Key people | Othman A. Al-Ghamdi (President and CEO) Ibrahim Q. Al-Buainain (Chairman) |
| Revenue | 2,070,148,000 Saudi riyal (2019) |
| Total assets | 74,029,648,000 Saudi riyal (2019) |
| Website | http://www.petrorabigh.com |
Rabigh Refining & Petrochemical Company (Petro Rabigh) is a Saudi Arabia–based company which produces and markets refined hydrocarbon and petrochemicals. It was founded in 2005 as a joint venture between Saudi Aramco and Japan’s Sumitomo Chemical, and is now publicly held and traded on the Saudi Stock Exchange (TADAWUL:2380).
The plant is valued at about SAR 16.71 billion (25% funded by the public and the remainder equally funded by Saudi Aramco and Sumitomo Chemical) and originally produced 18.4 million tons per annum (mtpa) of petroleum-based products and 2.4 mtpa of ethylene and propylene-based derivatives.
Petro Rabigh products are used in such end products as plastics, detergents, lubricants, resins, coolants, anti-freeze, paint, carpets, rope, clothing, shampoo, auto interiors, epoxy glue, insulation, film, fibers, household appliances, packaging, candles, pipes and many other applications.
Petro Rabigh II is an expansion project valued at US$9 billion that reached full production by 4th Quarter 2017 and provided a wide range of new high value-added products, some of which are exclusive to the Kingdom of Saudi Arabia and the Middle East.
It is a site next to Petro Rabigh where downstream industries utilize Petro Rabigh products as feedstock to produce chemical compounds such as polyols, polymer stabilizers, xylenes and solvents. The Rabigh Plastic Technical Center (R-PTC), a facility run by Sumitomo Chemical, provides technical support and training in plastic processing technology.
It is considered the first producer of many petrochemical products and the only producer of propylene oxide in the Middle East.[1]
In December 2020, the boards of directors appointed Othman Ali Al-Ghamdi as a board member and CEO, effective from Jan. 1, 2021, after the resignation of the CEO Nasser Damsheq Al-Mahasher.[2]
References
[edit]- ^ "Petro Rabigh developments impress foreign diplomats in Saudi Arabia". Arab News. 2019-01-31. Retrieved 2021-11-08.
- ^ "Petro Rabigh appoints new CEO as Nasser Al-Mahasher resigns". Arab News. 2020-12-08. Retrieved 2020-12-08.
External links
[edit]- Petro Rabigh on Google Finance
- Honeywell Solutions Selected for One of World's Largest Integrated Oil Refining, Petrochemical Plants. 3 June 2008
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