Yansab extends shutdown at petchem plant
Al Khobar, November 4, 2013
Saudi Arabia's Yanbu National Petrochemical Co. (Yansab) complex is likely to remain shut for maintenance until the end of next week, the company said late on Sunday.
The complex has been shut down since Oct. 23, due to a problem with a water cooling network, and it had been expected resume operations in the first week of November.
Yansab said in a statement to the Saudi stock market on Sunday that the shutdown is now expected continue until mid November.
The subsidiary of Saudi Basic Industries Corp. (SABIC) had previously said that the key olefins cracker unit would remain offline for a total of 12 days, with other units at the complex restarting before then.
Yansab on Sunday raised its estimated financial loss due to the outage to around 160 million Saudi riyals ($42.6 million), up from around 90 million riyals when it made the announcement on Oct. 27. – Reuters
More Energy, Oil & Gas Stories
- Opec cuts output closer to 2014 demand
- Oil industry struggling to attract women, says survey
- Rolls Royce wins Abu Dhabi offshore deal
- Alternative energy strategies probed
- GCC firms consider Occidental Mena stake bid
- Experts discuss Mena energy markets outlook
- Saudi Nov output steady, pumps 9.745m bpd
- Libya lost $7bn to oil strikes, says minister
- Iran to start gas exports to Iraq by July 2014
- Taqa invites banks ahead of bond issue