Tadawul trading screen
Several Saudi-listed companies announced that they have received a notice from Saudi Aramco to adjust feedstock prices effective Jan. 1, 2024.
The announcements included the financial impact of the price adjustment on those companies as follows:
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Companies Notified with Feedstock Price Increases |
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|
Company |
Event |
Announced Financial Impact |
Details |
|
SABIC |
Feedstock price increase |
1.7% rise in total cost of sales |
|
|
Yansab |
Feedstock price increase |
Increase of 2.8% of total cost of sales |
|
|
Kayan |
Feedstock price increase |
1.2% hike in total cost of sales |
|
|
SABIC AN |
Feedstock price increase |
3.8% jump in total cost of sales |
|
|
Petro Rabigh |
Feedstock, fuel oil price increase |
0.9% uptick in total cost of sales |
|
|
MEPCO |
Fuel used in production price increase |
Rise of 3% in total annual sales cost |
|
|
Tasnee |
Some feedstock prices increase |
2.5% increase in sales costs for subsidiaries and joint ventures (JVs) |
|
|
Sipchem |
Some feedstock prices increase |
Increase of 3.18% of total cost of sales |
|
|
SIIG |
Adjustment of dry gas prices and used ethane feedstock |
Almost 1.4% of the cost of sales for JVs |
|
|
Chemanol |
Adjustment of prices of fuel products used as feedstock for the company's products |
2.9% hike in total annual costs |
|
|
Luberef |
Increasing the price of sales gas used in the operation of the company's facility in Yanbu |
Increase equivalent to 0.2% of total cost of sales (SAR 18 million) |
|
|
Nama Chemicals |
Increasing the prices of NG used as fuel |
0.85% surge in total cost of sales |
|
|
Saudi Ceramics |
Increasing the prices of fuel products used in production |
Impact on production costs |
|
|
AMAK |
Adjustment of prices of fuel products used in production |
Expected financial impact still under assessment |
|
|
Al-Jouf Agri |
Fuel prices adjustment |
Higher costs of production |
|
|
MARAFIQ |
Energy products price increase |
Expected financial impact still under assessment |
|
|
Yamama Cement |
Fuel prices adjustment |
Expected financial impact still under assessment |
|
|
Qassim Cement |
Fuel prices adjustment |
Expected financial impact still under assessment |
|
|
Arabian Cement |
Fuel prices adjustment |
Expected financial impact still under assessment |
|
|
Hail Cement |
Fuel prices adjustment |
Expected financial impact still under assessment |
|
|
City Cement |
Fuel prices adjustment |
Expected financial impact still under assessment |
|
|
Saudi Cement |
Fuel prices adjustment |
Expected financial impact still under assessment |
|
|
Tabuk Cement |
Fuel prices adjustment |
Expected financial impact still under assessment |
|
|
Southern Cement |
Fuel prices adjustment |
Expected financial impact still under assessment |
|
|
Al Jouf Cement |
Fuel prices adjustment |
Expected financial impact still under assessment |
|
|
Najran Cement |
Fuel prices adjustment |
Expected financial impact still under assessment |
|
|
Yanbu Cement |
Fuel prices adjustment |
Expected financial impact still under assessment |
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|
Northern Cement |
Fuel prices adjustment |
Expected financial impact still under assessment |
|
|
Riyadh Cement |
Fuel prices adjustment |
Expected financial impact still under assessment |
|
|
Umm Al-Qura Cement |
Fuel prices adjustment |
Expected financial impact still under assessment |
|
|
GAS-Nomu |
NG price adjustment |
Impact on growth in annual revenues |
|
|
Lime Industries |
Fuel prices adjustment |
Work is underway to calculate the expected financial impact |
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Most companies said the financial impact of the price increases will appear starting from Q1 2024.
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