An SIIG plant
Saudi Industrial Investment Group (SIIG) announced 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 a statement to Tadawul.
The price hike will increase the cost of production in 2024, while the relevant financial impact will be difficult to determine due to the difference in the feedstock volumes used by the affiliated joint ventures (JVs) this year.
SIIG pointed out that the financial impact is seen to show in Q1 2024.
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