Saudi producers cut operating rates after Aramco attacks
Advanced Petrochemical Company (APC) said in a statement on the country’s stock exchange, Tadawul, that it faced a 40% shortage in its feedstock supplies and will announce any significant developments later. The company runs a 500,000 tons/year PDH unit and a 450,000 tons/year PP plant at Jubail complex.
Tasnee announced a curtailment of feedstock supplies of around 41%, noting that it is currently working on evaluating the final effects to determine the financial impact. Tasnee owns a majority stake in Saudi Polyolefins Company (SPC) and Saudi Ethylene and Polyethylene Company (SEPC).
SPC has 455,000 tons/year propylene and 450,000 tons/year PP capacity, while SEPC has 1 million tons/year ethylene, 285,000 tons/year propylene, 400,000 tons/year HDPE and 400,000 tons/year LDPE capacities.
Kayan Petrochemical’s feedstock supplies to its plants have also been halved due to the attack, the company said in a news release. The Saudi company owns a 350,000 tons/year PP unit as well as LDPE and HDPE plants each with 300,000 tons/year capacity.
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