SATORP posts SAR 53 mln profit in Q1 2019

09/05/2019 Argaam

Saudi Aramco Total Refining and Petrochemical Co. (SATORP) posted a net profit after zakat and tax of SAR 52.5 million for Q1 2019, against a net loss of SAR 205.3 million, a year earlier.

 

SATORP's profitability was driven by improved production, as the company was hurt in Q1 2018 by regular maintenance, its wholly-owned subsidiary Arabian Aramco Total Services Co. said in a bourse filing on Thursday.

 

In Q4 2018, the company incurred net loss after zakat and tax rose of SAR 157.8 million. SATORP's performance was backed by a rise in refining margins.

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