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PetroRabigh reports 55% net loss in Q2 2010

July 22/2010

(plastemart) -- Rabigh Refining and Petrochemical Co has recorded a second-quarter net profit but is 55.1% below Q1 earnings. The joint venture of state-owned oil company Saudi Aramco and Japan's Sumitomo Chemicals made SR 121.8 mln in the three months to end-June against a net loss of 236 mln a year ago, and Q1 net profit of SR 271.5 mln. The quarter-to-quarter net profit drop was due to non-recurring gains the firm made during the first quarter of 2010.

 

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PetroRabigh reports 55% net loss in Q2 2010

 

 

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