Net losses after Zakat and tax of SAR 645.8 million registered by Saudi Aramco Total Refining and Petrochemical Company (SATORP) in Q1 2020. In the corresponding period a year earlier, the company reported profits of SAR 52.5 million.
When compared to SAR 10.2 billion in Q1 2019, revenues stand at SAR 5.6 billion in the period ending on 31 March 2020, plunged by 45.3 percent year-on-year.
In addition to refining and petrochemical margins that resulted from market conditions, the company’s losses in Q1 2020 is also ascribed to the carrying out of scheduled maintenance works for the Refinery Train 2 units which lowered income.
