Petro Rabigh Posts Q2 Profit of 2.66bn Riyals
The preliminary financial results of Rabigh Refining and Petrochemicals Company (Petro Rabigh) showed a shift to profitability in the second quarter of 2026, as it recorded a net profit of 2.66 billion SAR compared to a loss of 1.37 billion SAR in the same period last year. This turnaround was driven by higher plant operating rates, increased sales, and improved margins for refined products and petrochemicals, along with reduced financing costs resulting from early repayment of some loans and lower interest rates, following a period of maintenance that had impacted the results of the same quarter last year. Additionally, the company experienced a significant year-on-year increase in quarterly revenue, rising by 416% to 20.37 billion SAR. For the first half of the year, the company achieved a net profit of 4.13 billion SAR, reversing a loss from the same period in 2025, with shareholders’ equity rising by 78.24% to 17.15 billion SAR, and earnings per share increasing to 2.47 SAR.
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