Saudi’s PetroRabigh transfers marketing rights from Sumitomo to Saudi Aramco

Rabigh Refining and Petrochemical Company (PetroRabigh) has completed arrangements to transfer the marketing rights of its products from Sumitomo Chemical Co., Ltd. (Sumitomo) and its affiliates to Saudi Arabian Oil Company (Saudi Aramco) and its affiliates.

The transfer follows Aramco’s acquisition of approximately 22.5% of PetroRabigh from Sumitomo under a previously announced binding share sale agreement.

Under the newly executed Omnibus Amendment Agreements (OAA), Aramco and its affiliates will assume full marketing rights for PetroRabigh’s refined and petrochemical products, covering both refined and petrochemical product agreements.

In parallel, PetroRabigh has terminated guarantees previously provided by Sumitomo in relation to these marketing agreements and released certain security interests held by the company’s senior creditors. The transfer of marketing rights and release of security are effective upon completion of Aramco’s share acquisition.

PetroRabigh said the transfer and security release are not expected to materially affect its financial position, as the commercial terms will remain largely unchanged post-completion.

According to market intel, final deliveries by Sumitomo are expected by the end of H1 2026, as PetroRabigh and Sumitomo have already begun coordinating with regular customers regarding supply arrangements.

The company emphasized that all parties involved—Saudi Aramco, Sumitomo, and their affiliates—are related parties due to substantial shareholding or control. Further updates on the completion of the share sale and related arrangements will be provided in line with regulatory requirements.

Written: Farid Muzaffar