Saudi Kayan says feedstock prices increased by Aramco

Logo of Saudi Kayan Petrochemical Co. (Saudi Kayan)

Saudi Kayan Petrochemical Co. (Saudi Kayan) received an official notice from Saudi Arabian Oil Co. (Saudi Aramco) on a hike in feedstock prices, the company said in a statement to Tadawul.

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The company expects that the related financial impact to be an increase by 1.3% in the annual cost of sales according to the latest audited annual financial statements.

The impact of price revision will be reflected on the company’s financial statements starting Q1 2025.

Saudi Kayan said it continues to work on boosting its business efficiency and development in a responsible and sustainable manner, investing in innovation and development of production technologies and products.

The company is also working on maximizing the advantage of the competitive infrastructure in the Kingdom to achieve its strategic objectives.