SIIG clarifies impact of Aramco’s feedstock price increase

04/01/2024 Argaam

SIIG clarifies impact of Aramco’s feedstock price increase

An SIIG plant

Saudi Industrial Investment Group (SIIG) said preliminary estimates suggest that the expected financial impact of the recent feedstock price adjustment is set at about 1.4% of the cost of sales of joint ventures, as per the latest audited financials.

 

It added that this impact is projected to appear starting Q1 2024, according to a statement to Tadawul today, Jan. 4.

 

The company announced earlier today receiving an official notice from Saudi Arabian Oil Co. (Saudi Aramco) on the increase in dry gas and ethane prices as of Jan. 1, according to Argaam's data.

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