“Petro Rabigh” turns profitable with 2.66 billion riyals in the second quarter of 2026

Rabigh Refining and Petrochemical Company “Petro Rabigh” turned profitable in the second quarter of 2026 with 2.66 billion riyals, compared to losses of 1.37 billion riyals in the same quarter of last year.
According to the company’s statement on the “Saudi Tadawul” website, the reason for achieving net profit is mainly due to the high factory operation rate, increased sales volume, and improved margins for refined and petrochemical products supported by favorable market conditions and the imbalance of supply and demand in global markets during the quarter.
The decrease in financing costs in the current quarter contributed positively to net profit, as a result of the early repayment of some long-term loans in addition to the decline in benchmark interest rates.
Moreover, the same quarter of the previous year was affected by scheduled comprehensive maintenance work for all operational facilities and production units, which lasted approximately 60 days, resulting in a decrease in production and sales volumes.
Net profit during the second quarter of 2026 amounted to 2,661 billion riyals, compared to 1,466 billion riyals for the first quarter of 2026.
The increase in net profit was mainly due to higher margins on refined and petrochemical products.
This improvement was mainly due to higher product prices, supported by favorable market conditions and an imbalance of supply and demand in global markets during the quarter.
Net profit for the first half of 2026 amounted to 4,127 billion riyals, compared to a net loss for the same period in 2025 amounting to 2,057 billion riyals.
This is mainly due to the high factory operation rate, increased sales volume, and improved margins for refined products, supported by favorable market conditions and an imbalance in supply and demand during the period.
The decrease in financing costs in the current period contributed positively to the net profit, as a result of the early repayment of some long-term loans in addition to the decline in reference interest rates.
Moreover, the corresponding period of the previous year was affected by scheduled comprehensive maintenance work for all operational facilities and production units, which lasted approximately 60 days, resulting in a decrease in production and sales volume.