Saudi Basic Industries Corporation (SABIC) Announces that its KSA affiliates have received official notification to increase the feedstock prices
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| Announcement Detail | Saudi Basic Industries Corporation (SABIC) would like to announce receiving its KSA affiliates an official notification from Saudi Arabian oil company (Saudi Aramco) to increase the feedstock prices, the expected financial impact of the feedstock prices is estimated at an increase equivalent to approximately 1.7% of the company's annual cost of sales according to the latest audited annual financial statement, and this impact will appear starting from the first quarter of the fiscal year 2024.
The company continues enhancing its business efficiency and development in a responsible and sustainable manner, and investing in innovation and development of production technologies and products, as well as maximizing the use of the advantages of the competitive infrastructure available in the Kingdom to achieve its strategic objectives. |
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