PNN – The Saudi Refineries Company (SARCO) has reported a loss exceeding $5 million for the third quarter of 2026.
According to the report of Pakistan News Network, citing the “Maal” news portal, the Saudi Refineries Company (SARCO) announced that the net loss attributable to shareholders reached 22.5 million riyals (approximately $5.87 million) in the third quarter of 2026; this contrasts with the same period last year, during which the company recorded a profit of 1.6 million riyals.
The report further indicates that the company’s operating loss for the third quarter of the current year stood at 22 million riyals, whereas it had posted an operating profit of 3.44 million riyals during the corresponding period of the previous year.
According to this report, the net loss for the current period stands at 27 million riyals, compared to 22 million riyals recorded during the same period last year—an increase of 24 percent.
This reported loss by the Saudi company comes amid escalating tensions between Yemen and Saudi Arabia; two days ago, a Yemeni military source issued a warning to all investors in Saudi Arabia.
The Yemeni military source advised all employees and individuals located within or near facilities identified as targets by the Yemeni Armed Forces to stay away from these sites for their own safety.
The source added that any companies expressing their intention—to the relevant authorities in Sana’a—to withdraw from or cease their investments in Saudi Arabia will be provided with the necessary facilitation to remove their assets.