Industry, Logistics & Shipping

Saudi petchem groups cut feedstock supply after attack

Four of Saudi Arabia’s major industrial groups, including Tasnee, Sipchem, Sadara and Yansab said that have curtailed feedstock supplies to their respective affiliates following the attacks on the kingdom’s oil facilities.

Saudi Arabia’s National Industrialization Company (Tasnee) said it has curtailed feedstock supplies to its petrochemical affiliates in Jubail in different proportions with an approximate average of 41 per cent starting from September 14.

The company is currently working on evaluating the final effects of attacks Saudi Arabia’s oil facilities to determine the financial impact, Tasnee said on its website, adding that any developments in this regard will be disclosed accordingly.

Tasnee, Saudi Arabia's second largest industrial company and one of the world's largest producers of titanium dioxide, has a wide range of interests in petrochemicals, chemicals, plastics, and metals manufacturing, industrial services and environmental technologies.

Sahara International Petrochemical Company (Sipchem) has announced a curtailment of supplies of some feedstock (in different proportions with an approximate average of 40 per cent) for some of its subsidiaries in the kingdom of Saudi Arabia as of September 15.

The company is currently working on evaluating the final effects to determine the financial impact. Any developments in this regard will be disclosed in accordance with the relevant rules and regulations, according to a company statement on Tadawul, the Saudi stock exchange.

Sadara Basic Services Company has announced a curtailment of supplies of some feedstock in different proportions with an approximate average of 16 per cent to plants in its parent company, Sadara Chemical Company as of September 14.

The company is currently working on evaluating the final effects to determine the financial impact, and any developments in this regard will be disclosed in accordance with the relevant rules and regulations, according to a company statement on Tadawul, the Saudi stock exchange.

Yanbu National Petrochemical Company (Yansab) has announced a curtailment of supplies of some feedstock in different proportions with an approximate 30 per cent as of September 14.

The company is currently working on evaluating the final effects to determine the financial impact. Any developments in this regard will be disclosed in accordance with the relevant rules and regulations, said a company statement on Tadawul, the Saudi stock exchange. – TradeArabia News Service