Petro Rabigh trims 9M 2025 net loss to SAR 3.29B; Q3 at SAR 1.24B

Rabigh Refining and Petrochemical Co.’s (Petro Rabigh) net losses narrowed to SAR 3.29 billion for the first nine months of 2025, compared to SAR 3.77 billion in the year-earlier period.

The improved results were attributed to lower financin costs, resulting from the waiver of the revolving shareholder loan and a softer benchmark interest rate.

However, this was partially offset by the lower margin and reduced sales volumes of certain petrochemical products amid challenging market conditions. This is besides the 60-day full shutdown of all operational facilities and production units at the company’s complex during current period to conduct a comprehensive scheduled periodic maintenance.

In Q3 2025, net losses shrank 4.9% to SAR 1.24 billion, from SAR 1.3 billion in Q3 2024. This was due to softer financing costs, thanks to a lower benchmark interest rate in the current quarter.

This was partially offset by the lower margin and reduced sales volumes of petrochemical product, given the challenging market conditions.

On a quarterly basis, losses narrowed from SAR 1.36 billion in Q2 2025, due to the resumption of regular complex operation after the 60-day full shutdown of all operational facilities and production units at the company’s complex in the previous quarter, which was undertaken to carry out comprehensive and scheduled periodic maintenance.

Total shareholders’ equity, no minority interest, stood at SAR 8.38 billion by Sept. 30, 2025, compared to SAR 10.58 billion in the prior-year period.

By the end of the nine-month period, accumulated losses amounted to SAR 8.57 billion, representing 51.29% of capital. However, the company lowered this ratio to 39.94% as of Oct. 31, 2025, after undergoing a capital hike.

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