Bid & Tender
Saudi Govt Energy Reforms to cost Sipchem $32m

Date : Jan 07, 2016

Saudi International Petrochemical Company (Sipchem) said on Tuesday that changes to energy and gas feedstock prices announced by the government last week would impact its financials by around SR120 million ($32 million).

 

The mid-sized petrochemical company did not disclose over what time period this figure covered but said in the bourse filing that it would start seeing the financial impact from the first quarter of 2016.

 

Sipchem did not provide further details.