{"id":228,"date":"2020-10-02T20:26:34","date_gmt":"2020-10-02T20:26:34","guid":{"rendered":"https:\/\/www.shimico.com\/blog\/?p=228"},"modified":"2023-04-11T10:07:09","modified_gmt":"2023-04-11T10:07:09","slug":"aramco-loan-2-billion-to-petro-rabigh-to-cover-cash-shortfall","status":"publish","type":"post","link":"https:\/\/www.shimico.com\/blog\/news\/chemical-industry-news\/aramco-loan-2-billion-to-petro-rabigh-to-cover-cash-shortfall\/","title":{"rendered":"Aramco loan $2 billion to Petro Rabigh to cover cash shortfall"},"content":{"rendered":"<p>Sumitomo Chemical and Saudi Aramco have issued a $ 2 billion loan to JV Petro Rabigh (Rabigh, Saudi Arabia) after revealing a trade in working capital shortages due to rapidly deteriorating market conditions since the spin. this year.<\/p>\n<p>&#8220;The market environment has deteriorated rapidly since late last year. Along with other factors, including periodic shutdown maintenance, Petro Rabigh faced a shortage of working capital,&#8221; Sumitomo said. To make up for the shortfall, Sumitomo and Aramco have lent cash, the companies each contributing $ 750 million, equivalent to 37.5% of their shares in JV. The company adds: &#8220;Sumitomo Chemical continues to provide the necessary support until Petro Rabigh &#8220;To be able to continue its sustainable activity to achieve sustainable growth.&#8221;<\/p>\n<p>The remaining 25% of Petro Rabigh, who is on the public list, belongs to Saudi private investors.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sumitomo Chemical and Saudi Aramco have issued a $ 2 billion loan to JV Petro Read More &#8230;<\/p>\n","protected":false},"author":7,"featured_media":223,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7,1],"tags":[77],"class_list":["post-228","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chemical-industry-news","category-news","tag-text"],"_links":{"self":[{"href":"https:\/\/www.shimico.com\/blog\/wp-json\/wp\/v2\/posts\/228","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.shimico.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.shimico.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.shimico.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/www.shimico.com\/blog\/wp-json\/wp\/v2\/comments?post=228"}],"version-history":[{"count":0,"href":"https:\/\/www.shimico.com\/blog\/wp-json\/wp\/v2\/posts\/228\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.shimico.com\/blog\/wp-json\/wp\/v2\/media\/223"}],"wp:attachment":[{"href":"https:\/\/www.shimico.com\/blog\/wp-json\/wp\/v2\/media?parent=228"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.shimico.com\/blog\/wp-json\/wp\/v2\/categories?post=228"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.shimico.com\/blog\/wp-json\/wp\/v2\/tags?post=228"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}