Further to the announcement from Rabigh Refining and & Petrochemicals Company (Petro Rabigh) concerning the electricity and steam power failure at the Company complex, Petro Rabigh would like to clarify that the providing company (RAWEC) returned power supplies in the evening of Wednesday 11th September.
Following engineering checks and investigations it was revealed that the aforementioned power failure resulted in damage to some of the furnaces in the ethane cracker unit. The crude oil refining unit was not damaged by the outage. Work has begun on the undamaged furnaces in the ethane cracker unit in order to restart them in the next few days. The repair and maintenance operation on the damaged furnaces is expected to last 16 days.
The financial impact from the cost of repair works and the loss of profits is estimated at approximately SR250 million as per current petrochemical prices, and will appear in the third quarter results for 2013.
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