Yansab receives Aramco's feedstock price increase notice

Logo of Yanbu National Petrochemical Co. (Yansab)

Yanbu National Petrochemical Co. (Yansab) announced receiving an official notice from Saudi Aramco on an increase in feedstock prices.

The expected financial impact is estimated to be an increase in the feedstock prices equivalent to approximately 2.8% of the company's annual cost of sales according to the latest audited annual financial statement, the company said in a statement to Tadawul. 

The financial impact will appear on Yansab’s financial statements starting from Q1 2024. 

Yansab continues to enhance its business efficiency and development sustainably, as well as invest in innovation and development of production technologies and products, the statement added.  

The company also intends to maximize the advantages of the competitive infrastructure available in the Kingdom to achieve its strategic objectives.