Petrochem has released its 4Q16 financial results, showing a net loss of SAR127mn compared to net profit of SAR191.2mn in 3Q16 and SAR178.3mn in 4Q15. Gross profit was reported at SAR40.4mn (-92.77% Q-o-Q, -92.6% Y-o-Y), while operating loss came at SAR110.5mn versus an operating profit of SAR406mn in 3Q16 and SAR372.5mn in 4Q15. Revenues fell 30% Y-o-Y to SAR1,163mn. The company attributed the Y-o-Y decline in performance to the: i) scheduled maintenance that was conducted in October (lasted for the whole month); ii) decline in volumes and average prices; and iii) increase in financing charges. The company added that the decline in the Q-o-Q performance was also due to the scheduled maintenance that took place in October. (Tadawul)