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National Agricultural Development Co. (NADEC) said that Saudi Arabian Oil Co.'s (Saudi Aramco) fuel price adjustment will lead to an estimated increase of 1.8% in annual production and distribution costs, according to a statement to Tadawul.
The relevant financial impact will appear as of Q1 2024, the statement added.
NADEC received earlier a notice from Saudi Aramco regarding an adjustment in the prices of fuel products used in its operations and distributions, effective Jan. 1, 2024, Argaam reported.
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