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Petro Rabigh Achieves 2.66B Riyals Profit in Q2 2026
Rabigh Refining and Petrochemicals (Petro Rabigh) recorded a significant turnaround in its financial results during the second quarter of 2026, achieving a net profit of 2.66 billion SAR compared to a loss of 1.37 billion SAR in the same period last year. This improvement was driven by higher plant utilization rates, increased sales, and better product margins. Additionally, the company's revenues surged by 416.01% year-over-year, reaching 20.367 billion SAR, thanks to rising product prices and the return to normal operating levels following maintenance activities. For the first half of the year, the company shifted to a profit of 4.127 billion SAR, reversing previous losses, while shareholders’ equity increased by 78.24% to 17.15 billion SAR. The earnings per share also changed to 2.47 SAR. The main reasons for this turnaround include increased sales, improved product margins, lower financing costs, and supportive market conditions—factors that contrasted with the comparable period last year, which was impacted by maintenance and low production capacity.
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