Riyadh - Mubasher: The accumulated losses of Rabigh Refining and Petrochemical Company (Petro Rabigh) reached SAR 2.46 billion, accounting for 14.77% of its SAR 16.70 billion capital, as of 31 March 2026.
This brings the company’s accumulated losses below the regulatory 20% threshold, according to a bourse filing.
Meanwhile, the reduction follows the company’s capital restructuring, which lowered its share capital to SAR 16.70 billion from SAR 21.97 billion.
This came after shareholders approved a capital decrease by reducing the nominal value of Class A shares from SAR 10 per share to SAR 6.85 a share.
It is also worth noting that this move resulted in writing off SAR 5.26 billion to offset accumulated losses.
During the first quarter (Q1) of 2026, Petro Rabigh swung to net profits of SAR 1.46 billion, against net losses worth SAR 691 million in Q1-25.
