MARAFIQ says Aramco raises fuel prices; assesses impact

04/01/2024 Argaam

MARAFIQ says Aramco raises fuel prices; assesses impact

Logo of Power and Water Utility Company for Jubail and Yanbu (MARAFIQ) 

Power and Water Utility Company for Jubail and Yanbu (MARAFIQ) announced receiving an official notice from Saudi Aramco that the prices of some feedstock products have been increased, as of Jan. 1.

 

The company is still studying and evaluating the financial impact, which will be announced once completed, MARAFIQ said in a statement to Tadawul today, Jan. 4.

 

It pointed out that the related financial impact is set to appear in Q1 2024.

 

MARAFIQ is working to mitigate the financial impact of this increase by enhancing production efficiency, plants’ reliability, optimizing asset use and reduce costs, the statement added.

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