Petro Rabigh returns to profit with SAR 2.57 billion in Q3
Petro Rabigh posted a SAR 2.57 billion profit in Q3 2026, reversing a loss from the same period last year, driven by higher revenues and improved margins.
Key Takeaways
AIRabigh Refining and Petrochemical Company (Petro Rabigh) reported a profit of 2.57 billion riyals (SAR) for the third quarter of 2026, compared to a loss of 1.23 billion riyals in the same period last year. Operating profit reached 2.91 billion riyals in the third quarter, versus an operating loss of 727 million riyals a year earlier.
According to a statement on Saudi Tadawul, the company attributed its return to profit this quarter to a rise in revenues, which reached 16.8 billion riyals, up from 9.19 billion riyals in the same quarter last year. This increase was driven by higher average selling prices for refined and petrochemical products amid favorable market conditions and global supply-demand imbalances, as well as higher sales volumes due to improved plant operating rates.
The company explained that the growth in quarterly profits was due to improved margins for refined products, supported by favorable market conditions, global supply-demand imbalances, and increased sales volumes resulting from better plant utilization.
The statement added that lower financing costs also contributed positively to net profit, mainly due to the early repayment of some long-term loans and a decline in benchmark interest rates.
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