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SABIC’s feedstock supplies shortage improves to 30%

SABIC’s feedstock supplies shortage improves to 30%
SABIC will continue working on evaluating the final effects
SABIC
2010
-0.34% 87.00 -0.30

Riyadh – Mubasher: Saudi Basic Industries Corp. (SABIC) said that its feedstock supplies shortage fell to 30% after it was seen at 49% following Aramco’s drone strikes on Saturday.

The company’s feedstock supplies are expected to resume to their normal levels by the end of the month, SABIC cited the Saudi energy ministry, according to a disclosure to the Saudi Stock Exchange (Tadawul) on Wednesday.

SABIC will continue working on evaluating the final effects to determine the financial impact, while further developments will be disclosed in due course.

On 15 September, the company expected the decline in its feedstock supplies to be in different proportions with an approximate average of 49% following the attack on Saudi Aramco’s plants over the weekend.