Al-Marsad newspaper: A number of companies announced in media statements that they had received a notification from Saudi Aramco to amend the prices of fuel products starting from January 1, 2024.
Najran Cement, Al-Jouf Cement, Southern Region Cement, Northern Cement, Tabuk Cement, Madinah Cement, Riyadh Cement, Hail Cement, Umm Al-Qura Cement, Yanbu Cement, and Saudi Cement companies explained that the rise in fuel prices will lead to an increase in the cost of production, noting that work is underway to calculate the expected financial impact and an announcement will be made. About it as soon as it is completed.
For its part, the Saudi Basic Industries Corporation – SABIC said in a media statement: It is expected that the financial impact of Aramco’s notification of an increase will be approximately 1.7% of the total cost of sales, according to the company’s latest audited annual financial statements. Noting that the financial impact of this amendment will appear starting from the financial results for the first quarter of 2024.
SABIC Agricultural Nutrients also expected, in a separate statement on Tadawul, that the financial impact of this notice would be an approximate increase equivalent to 3.8% of the total cost of sales, according to the company’s latest audited annual financial statements.
2024-01-04 09:40:57
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