Advanced’s supply of feedstock to stabilize soon, says CEO
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Advanced Petrochemical’s feedstock supplies from Saudi Aramco is improving as compared to the initial days following the attack on the Abqaiq and Hijrat Khurais oil processing facilities, CEO Fahad Almatrafi told CNBC Arabia in an interview.
“We receive feedstock supply from Saudi Aramco as our feedstock is low and doesn’t cover the requirements during the shortage,” Almatrafi said.
The company announced on Wednesday an improvement in feedstock as shortage reduced to 20 percent, and expecting supply to be normalized by Sept.-end.