SAFCO sees 30% feedstock shortage

17/09/2019 Argaam

 

Saudi Arabia Fertilizers Co (SAFCO) is seeing a 30 percent shortage in feedstock supplies as of Sep. 16, 2019, the company said in a bourse statement.

 

“Feedstock supply is likely to resume in the next few days,” SAFCO added.

 

Updates will be disclosed later, in line with related regulations, the statement said.

 

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.

 

SABIC, which owns a 42.99 percent stake in SAFCO, said earlier this week that some of its subsidiaries in the Kingdom have seen a cut in feedstock supplies at an average of 49 percent as of Sept. 14.

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