Petro Rabigh shareholders approve 2020 contracts with Saudi Aramco, Sumitomo

Rabigh Refining and Petrochemical Co.’s (Petro Rabigh) shareholders approved on April 7, 2021, the transactions and contracts concluded with Saudi Aramco. These contracts were concluded for purchasing goods, including LPG shortfall, during 2020 without any preferential conditions.

Board members who have indirect interest as employees of Saudi Aramco are Ibrahim Al-Buainain, Nasser Al-Mahasher, and Sulaiman Al-Bargan.

They also approved the business and contracts concluded between Petro Rabigh and Sumitomo Chemical Co. Ltd.

Board members who have indirect interest as Sumitomo Chemicals employees are Noriaki Takeshita, Takashi Shigemori and Seji Takauishi.

Shareholders also approved the audited financial statements, and board and audit reports for 2020, and discharged the board of directors from liabilities for the previous year.

Moreover, an external auditor was also appointed to examine, review and audit the financial statements for Q2, Q3 and 2021; Q1, Q2, Q3 and 2022; and Q1 2023.