Saudi Petro Rabigh Receives $ 2 Billion in Financing from Aramco...

Tariq Khaled / Anatolia

Rabigh Refining and Petrochemical Company, “Petro Rabigh,” Saudi Arabia, announced the signing of three joint facilities and revolving loans worth 7.5 billion riyals (two billion dollars).

According to the company’s disclosure to the local stock exchange, Thursday, the agreements were divided into an agreement with the founding partner, “Saudi ”, worth 1.88 billion riyals ($ 501 million) for a period of 36 months after December 2020.

And a second agreement with a revolving loan with “Aramco” amounting to 2.81 billion riyals (749 million dollars) for a period of 36 months after December 2020, and a third agreement with a revolving loan with the founding partner, Sumitomo Chemicals, amounting to 2.81 billion riyals (749 million dollars) for a period of 36 months after December 2020 .

And “Petro Rabigh” is the second largest energy sector company listed on the stock exchange after “Aramco”, which is an integrated complex for petroleum refining and petrochemicals, and it is 37.5 percent owned by “Aramco” and “Sumitomo”.

The company said the purpose of the financing was to support the company’s general and working capital objectives.

The public finances of energy companies in Saudi Arabia, which is classified as the third largest producer of crude oil with an average of 10 million barrels per day in normal conditions, have been affected by the decline in barrel prices during 2020.
The news published on the official page of Anadolu Agency, is an abbreviation of the part of the news that is presented to subscribers through the News Streaming System (HAS). In order to subscribe to the agency, please contact the following link.

These were the details of the news Saudi Petro Rabigh Receives $ 2 Billion in Financing from Aramco... for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at saudi24news and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

NEXT Food-poisoning patients released from intensive care, 25 discharged from Riyadh hospital