SABIC says local affiliates notified of feedstock price increase

02/01/2025 Argaam

SABIC says local affiliates notified of feedstock price increase

Logo of Saudi Basic Industries Corp. (SABIC) 

Saudi Basic Industries Corp. (SABIC) said that its affiliates in the Kingdom received an official notice from Saudi Aramco on raising feedstock prices.

 

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The company expects the total cost of sales to increase by nearly 0.2% (SAR 13.5 million), based on the audited financial statements as of Sept. 30, 2024, according to a Tadawul statement.

 

The financial impact is anticipated to appear starting Q1 2025.

 

The current adjustment will not significantly  impact the company’s net profit over the coming period.

 

Luberef will work to enhance operational efficiencies, minimize the impact of the price hike, and continue delivering value to its shareholders as part of its business transformation journey, the statement added.

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