Saudi Kayan’s feedstock supplies to drop 50% starting Sept. 14

15/09/2019 Argaam

 

Saudi Kayan Petrochemical Co. announced a 50 percent drop in feedstock supplies to its plants as of Sept. 14.

 

“The company is currently working on evaluating the final effects to determine the financial impact,” Saudi Kayan said in a bourse statement on Sunday.

 

Any related developments will be disclosed in accordance with relevant regulations, the statement added.

 

Saudi Basic Industries Corporation (SABIC), which owns 35 percent of Kayan shares, has also announced earlier today reducing feedstock supplies at an average of 49 percent for some subsidiaries in the Kingdom as of Sept. 14.

 

Drone attacks sparked fires at two Saudi Aramco oil facilities in Abqaiq and Hijrat Khurais at 4am on Saturday, Sept. 14, Argaam reported.

 

Read: Fire at two Aramco facilities under control

 

A temporary production halt has resulted from the drone attacks, Energy Minister Prince Abdulaziz bin Salman said.

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