January 16, 2016 / 6:36 PM / in 2 years

Fire at Saudi petrochemical waste tank under control, no casualties

DUBAI (Reuters) - A fire that broke out on Saturday at an industrial oil waste storage tank in the Saudi industrial city of Jubail was brought under control without any disruption to operations, Saudi petrochemical company Kayan said.

The company said in a statement that there were no casualties.

Kayan, the fifth-largest petrochemical manufacturer by market value in Saudi Arabia, gave no details on what caused the fire but said it would announce the financial impact and any new developments at a later date.

Saudi civil defense earlier reported the fire having been brought under control and published photos on its Twitter account of fire trucks trying to control the flames.

An affiliate of Saudi Basic Industries Corp (SABIC), Saudi Kayan this week reported a net loss of 624.1 million riyals ($166.3 million) in the fourth quarter, the fourth straight quarter it failed to achieve a profit, hurt by product prices that have tumbled along with feedstock oil.

Writing by Sami Aboudi; Editing by Kevin Liffey and Stephen Powell

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