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Advanced Petrochemical reveals rise in feedstock supplies

Advanced Petrochemical reveals rise in feedstock supplies
Supplies are expected to reach normal levels by the end of September
ADVANCED
2330
14.71% 42.90 5.50

Riyadh – Mubasher: Advanced Petrochemical Company announced that its feedstock supplies from state-run oil giant Saudi Aramco have improved as the reduction fell to 20% from 40%.

Supplies are expected to reach normal levels by the end of September as earlier revealed by the kingdom’s Ministry of Energy, the company said in a statement to the Saudi Stock Exchange (Tadawul) on Wednesday.

Advanced Petrochemical Company is still working on assessing the final effects to determine the financial impact, the statement added.  

On Saturday, Saudi Arabia controlled two fires in two of Aramco’s facilities in Abqaiq and Khurais after being attacked with drones, which led to slashing Aramco’s crude oil supply by 5.7 million barrels per day or 50% of its production.