Rabigh Refining and Petrochemical Company (Petro Rabigh) [2380.SE] has announced its 3Q16 financial results, showing a net loss of SAR217mn compared to a loss of SAR460mn in 3Q15 and net profit of SAR103.2 in 2Q16. Gross profit came in at SAR25mn compared to a gross loss of SAR250mn in 3Q15 and a gross profit of SAR400.8mn in 2Q16. Operating loss reached SAR211mn compared to a loss of SAR463mn in 3Q15, and operating profit of SAR118mn in 2Q16. Revenues were reported at SAR6,376mn (-4% Y-o-Y).The company attributed the weak financial performance to the: i) Decline in crude oil prices, which led to an inventory carryover loss; ii) Decrease in petrochemicals prices; and iii) Decrease in volumes sold due to a scheduled maintenance for the industrial complex and a technical failure in its ethane cracker. (Tadawul)