NADEC says fuel price adjustment to raise production, distribution costs by 1.8%

14/01/2024 Argaam

NADEC says fuel price adjustment to raise production, distribution costs by 1.8%

Logo of National Agricultural Development Co. (NADEC)

National Agricultural Development Co. (NADEC) said that Saudi Arabian Oil Co.'s (Saudi Aramco) fuel price adjustment will lead to an estimated increase of 1.8% in annual production and distribution costs, according to a statement to Tadawul. 

 

The relevant financial impact will appear as of Q1 2024, the statement added. 

 

NADEC received earlier a notice from Saudi Aramco regarding an adjustment in the prices of fuel products used in its operations and distributions, effective Jan. 1, 2024, Argaam reported.  

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