Saudi petrochemicals producer Petro Rabigh, a joint venture of Saudi Aramco and Japan’s Sumitomo, has signed a final settlement agreement with utilities provider RAWEC over power and steam outages which caused damage to the company’s ethane cracker. Two blackouts in RAWEC’s utilities plant required a shutdown of the 95mn cfd cracker for repairs, contributing to a slide in Petro Rabigh’s profits to SR359.2mn ($95.8mn) in 2013 from SR488.9mn ($130.4mn) in 2012 (MEES, 24 January).
Petro Rabigh says the agreement requires RAWEC to: (CONTINUED - 286 WORDS)
