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English news

07-Feb-2018

Petro Rabigh set to deliver robust performance, backed by better production across board: CEO

In an interview with Argaam, Petro Rabigh CEO Nasser Al-Mahasher stated that, going forward, the company is set to deliver robust results, backed by an improvement in production and the operation of Rabigh II project. Al-Mahasher mentioned that operations have commenced at all plants in the project’s second phase and that the company is close to conducting the lender’s reliability test. Based on the interview, the capital increase is likely to take place during 2018 or 2019. Al-Mahasher highlighted that the continuous improvement of all production units and higher product prices have contributed to the recently released 2017 financial results. Finally, management is working on regularly inspecting production plants to prevent unplanned shutdowns and technical defaults, which generally results in performance volatility, he added. 
 

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