Follow-up announcement from Rabigh
Refining and & Petrochemicals Company (Petro
Rabigh) regarding electricity and steam power
outage at Company complex.
Further to the announcement from Rabigh Refining
and & Petrochemicals Company (Petro Rabigh) on
6th Dhu Al-Qa’dah 1434/12th September 2013
concerning the electricity and steam power
failure at the Company complex, Petro Rabigh
would like to clarify that the providing company
(RAWEC) returned power supplies in the evening
of Wednesday 5th Dhu Al-Qa’dah/11th September.
Following engineering checks and investigations
it was revealed that the aforementioned power
failure resulted in damage to some of the
furnaces in the ethane cracker unit. The crude
oil refining unit was not damaged by the outage.
Work has begun on the undamaged furnaces in the
ethane cracker unit in order to restart them in
the next few days. The repair and maintenance
operation on the damaged furnaces is expected to
last 16 days.
The financial impact from the cost of repair
works and the loss of profits is estimated at
approximately SR250 million as per current
petrochemical prices, and will appear in the
third quarter results for 2013.
Further announcements will be made should any
developments occur in this regard.