Sadara Chemical receives Aramco notice on feedstock price hike

14/01/2024 Argaam

Sadara Chemical receives Aramco notice on feedstock price hike

Logo of Sadara Co.

Sadara Basic Services Co. said that its parent company, Sadara Chemical Co., received an official notice from Saudi Arabian Oil Co. (Saudi Aramco) stating an increase in feedstock price, according to a statement to Tadawul. 

 

The expected financial impact will be approximately a 1% increase in the company's cost of sales based on the latest audited annual financial statement. 

 

The statement also added that this impact is expected to appear starting from Jan. 1, 2024. 

 

The company continues enhancing its business efficiency and development responsibly and sustainably in accordance with its strategic plan. 

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