PetroRabigh says energy price hike to cost it $80m
DUBAI, December 30, 2015
Saudi Arabia's Rabigh Refining and Petrochemical Co (PetroRabigh) expects a negative financial impact of 300 million riyals ($80 million) from the energy price hikes announced in the 2016 government budget, it said in a bourse statement on Wednesday.
The firm, a joint venture between Saudi Aramco z and Japan's Sumitomo Chemical 4005.T, said further developments would be announced at a later date. --Reuters
