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FINANCIAL NEWS
Saudi PetroRabigh to see USD266 m growth in revenue
16 Dec 2013
(MENAFN) Revenues of Saudi Arabia’s PetroRabigh are expected to grow by USD 266 million by 2014 as international marketing fees will be cut by a third, according to Arab News.
The petrochemical company is a joint venture between Saudi Aramco and Sumitomo Chemical, which market PetroRabigh”s production.
PetroRabigh said: “Saudi Aramco and Sumitomo Chemical…are committed to reducing the marketing commission of all petrochemicals products of PetroRabigh by around a third of current levels and commissions to market petroleum products of PetroRabigh in the domestic market have been cancelled.”
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