One of the most prominent integrated refining and petrochemical complexes in Saudi Arabia is Petro Rabigh, which was a joint venture between Saudi Aramco and Japan's Sumitomo Chemical. This state-of-the-art facility was established in 2005 and is ideally placed on the shore of the Red Sea. It combines the strengths of both of its parent firms to make a substantial contribution to the economic diversification of the Kingdom.
The large refining operations that Petro Rabigh possesses, which have a capacity of 400,000 barrels per day, are the company's central focus. Due to the complex's refining expertise, it can manufacture a wide range of refined petroleum products that fulfil the requirements of both domestic and international markets. The fact that Petro Rabigh adheres to the highest industry standards for safety, environmental responsibility, and operational efficiency is evidence of the company's dedication to achieving the greatest possible level of performance.
Not only does Petro Rabigh engage in refining, but it is also a significant player in the petrochemical industry, where it manufactures a diverse range of goods of superior quality. The complex produces important petrochemicals such as ethylene, propylene, polyethene, and polypropylene with its cutting-edge technologies. In addition to serving as fundamental components for various sectors, these goods also contribute to developing multiple applications worldwide.
The sustainability of the environment is one of Petro Rabigh's primary concerns, which is in line with the worldwide movement towards more environmentally friendly and cleaner methods. To reduce its environmental impact, the corporation prioritises implementing stringent ecological management systems and invests in cutting-edge technologies. Petro Rabigh is dedicated to the appropriate waste management and the optimal utilisation of resources, both of which contribute to a more sustainable future.
Additionally, Petro Rabigh is an essential component in the process of fostering social development and providing support for the local economy. The complex creates Employment opportunities, which contributes to the region's economic expansion. Education, healthcare, and social well-being are the primary focuses of the company's involvement in community activities, which are actively underway.
Petro Rabigh is a publicly traded corporation listed on the Tadawul, the Saudi Stock Exchange. The company displays transparency and responsibility. The company's outstanding financial performance demonstrates that it is dedicated to equally providing value to its stakeholders and shareholders. When implemented, the organisation's comprehensive governance practices guarantee ethical behaviour and compliance with regulatory norms.
Regarding the Kingdom's energy and petrochemical environment, Petro Rabigh is a shining example of success from a business perspective. With a foundation founded on innovation, sustainability, and community participation, the complex continues to make a substantial contribution to the diversification of Saudi Arabia's economy while simultaneously satisfying the demand for high-quality refined products and petrochemicals worldwide.
In August 2005, the Rabigh Refining and Petrochemical Company (Petro Rabigh) was established as a joint venture between Saudi Aramco and Sumitomo Chemical, creating the largest single-phase integrated refining and petrochemical complex globally. In March 2006, construction commenced on petrochemical plants, backed by investments totaling US$9.8 billion, with around 60% sourced through project finance.
In January 2008, Petro Rabigh underwent its Initial Public Offering (IPO) on the Saudi Arabian stock exchange, Tadawul, resulting in a change in ownership with Saudi Aramco and Sumitomo Chemical each holding 37.5% stakes. The IPO saw the participation of approximately 4.5 million Saudis, driving the share value up fivefold.
In 2017, the Rabigh Industrial Park, spanning 525 hectares, was established to attract third-party investors aiming to utilize Petro Rabigh’s feedstocks for downstream chemical production. Additionally, the Petro Rabigh Phase II expansion project in 2017 nearly doubled the size of the complex, introducing a diverse range of petrochemical derivatives, many of which were new to the Kingdom and the region.
In 2021, Othman A. Al-Gamdi was appointed as the 6th President and CEO of Petro Rabigh.
To fulfill the energy and petrochemical requirements of the Kingdom and beyond, Petro Rabigh is devoted to being a leading integrated refining and petrochemical complex. Our company is determined to achieve excellence in this endeavour. Our objective is to contribute to the diversification of Saudi Arabia's economy by operating with efficiency, creativity, and environmental responsibility in our business operations.
As a global refining and petrochemical industry leader, we want to be recognised for our commitment to environmentally responsible practices, technological innovation, and operational excellence. This is our goal. Petro Rabigh's goals are to be a responsible corporate citizen, contribute to the prosperity and well-being of the communities we serve, and drive economic progress. Value creation for stakeholders is also a priority for the company. With a commitment to environmental stewardship and continual improvement, our goal is to become a reliable partner in the process of satisfying the global community's ever-changing energy and petrochemical requirements.
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