Petro Rabigh

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Petro Rabigh
بترو رابغ
TypePublic
ISINSA120GAH5617
Founded2005
FounderSaudi Aramco
Sumitomo Chemical
HeadquartersCoordinates: 22°42′35″N 39°1′19″E / 22.70972°N 39.02194°E / 22.70972; 39.02194,
Rabigh
,
Saudi Arabia
Key people
(President and CEO)
(Chairman)
Hiromasa Yonekura
(Vice Chairman)
Revenue2,070,148,000 Saudi riyal (2019) Edit this on Wikidata
Total assets74,029,648,000 Saudi riyal (2019) Edit this on Wikidata
Websitehttp://www.petrorabigh.com

Rabigh Refining & Petrochemical Company (Petro Rabigh) is a Saudi Arabia-based company which produces and markets refined hydrocarbon and petrochemicals. The company was a joint venture between Saudi Aramco and Japan’s Sumitomo Chemical which is now publicly held. It is traded on the Saudi Stock Exchange (TADAWUL:2380).

Petro Rabigh's operates a 400,000-barrel (64,000 m3) capacity refinery located in Rabigh, Saudi Arabia, which produces naphtha, kerosene, gasoline, diesel and fuel oil.[1]

The company produces 140 million barrels of petroleum products and 5 million tons of petrochemical products every year.

The company held its initial public offering in January 2008.[2][3][4] Ownership of the company is 37.5% to Saudi Aramco, 37.5% to Sumitomo Chemical, and 25% to the public.[5]

Construction of second phase completed in 2016 and production began in 2017.[6]

It is considered the first producer of many petrochemical products and the only producer of propylene oxide in the Middle East.[5]

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.[7]

References[]

  1. ^ Mouawad, Jad (January 20, 2008). "The Construction Site Called Saudi Arabia". The New York Times. Retrieved 2021-11-08.
  2. ^ "petro rabigh ipo subscription exceeds sar 2.4 billion in two days". Al Bawaba. January 7, 2008. Archived from the original on 2011-08-09. Retrieved 2021-11-08.
  3. ^ "Over 5,4 million Saudis pump over SAR16bn at Petro Rabigh IPO. HSBC Saudi Arabia Limited, the Financial Advisor and Lead Manager for the initial public offering (IPO) of Petro Rabigh, announced the victory achieved in Petro Rabigh IPO". AMEinfo.com. January 15, 2008. Archived from the original on 7 June 2011. Retrieved 11 July 2008.
  4. ^ "Petro Rabigh Debuts at 150% Above IPO Price". Arab News. 28 January 2008. Retrieved 10 January 2010.
  5. ^ a b "Petro Rabigh developments impress foreign diplomats in Saudi Arabia". Arab News. 2019-01-31. Retrieved 2021-11-08.
  6. ^ Henni, Abdelghani (April 20, 2009). "Aramco signs MoU with Sumitomo for Petro Rabigh". Arabian Oil and Gas. Archived from the original on 2011-09-04. Retrieved 10 January 2010.
  7. ^ "Petro Rabigh appoints new CEO as Nasser Al-Mahasher resigns". Arab News. 2020-12-08. Retrieved 2020-12-08.

External links[]

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