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Higher feedstock prices to cost Saudi Sipchem $32 million

by ChemOrbis Editorial Team -
  • 06/01/2016 (13:08)
According to media reports, Saudi International Petrochemical Company (Sipchem) stated that the government’s decision to increase energy prices will cost the company around 120 million riyals ($32 million), adding that the financial effects of higher costs will start to come to light as of the first quarter of this year.

Previously, another Saudi Arabian petrochemical producer, PetroRabigh, reported that the government’s recent decision to raise energy costs may cost the company around 300 million riyals ($80 million) in the coming year.
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