Sipchem Receives Notification from Aramco on Feedstock Price Increase

Sahara International Petrochemical Company (Sipchem) announced on Thursday that it received a notice from the Saudi Arabian Oil Company (Saudi Aramco) to increase some feedstock prices starting from Jan. 01 of this year.

The Company expected in a statement on “Tadawul” that the financial impact of this increase would be about 2% of the total cost of sales according to the Company’s latest audited annual financial statements.

It also expected this impact to appear starting from the results of the first quarter of 2025, indicating that it continues to work on rationalising expenses and enhancing the efficiency of its business and developing it in a sustainable manner in accordance with its strategy.