Saudi Aramco JV to shut unit for second time in recent months
11/14/2016
(Reuters) Saudi Arabia's Rabigh Refining and Petrochemical Co. (PetroRabigh) will shut its ethane cracker for 21 days effective from November 14 for maintenance, the company said in a bourse filing on Sunday.
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| Photo Courtesy of PetroRabigh |
The suspension, which aims to improve the plant's safety and efficiency, will impact the firm's 4Q earnings by approximately $100 MM, the statement added.
It is the second time in recent months that the firm, a joint venture between Saudi Aramco and Japan's Sumitomo Chemical, has shut the unit.
PetroRabigh shut the cracker down as a precaution on June 23 to work on damage to one of the unit's turbines, restarting it on July 14.
Reporting by Celine Aswad; Writing by David French; Editing by Andrew Torchia
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