Obeikan Glass receives MARAFIQ notice on gas price change

14/01/2024 Argaam

Obeikan Glass receives MARAFIQ notice on gas price change

Obeikan Glass manufacturing facility

Obeikan Glass Co. announced receiving an official notice from The Power and Water Utility Company for Jubail and Yanbu (MARAFIQ) on a change in gas prices as of Jan. 1, according to a statement to Tadawul.

 

The change will increase the cost of production, the company said, indicating that it started working on implementing measures to boost operating efficiency and optimally use energy to alleviate the impact of higher costs.  

 

Obeikan Glass will evaluate the relevant financial impact on its production cost, which will appear in Q1 2024 financial statements. 

 

Any relevant updates will be duly revealed, the statement added.

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