United Mining says gas price adjustment to raise sales costs by 4.5%

11/02/2024 Argaam
Logo of United Mining Industries Co.

Logo of United Mining Industries Co.

United Mining Industries Co. (UMI) said that the approximate financial impact of adjusting gas prices is an increase in sales costs by 4.5%.

 

The company expected this impact to appear in Q1 2024, according to a statement to Tadawul.

 

United Mining will seek in the coming period to explore ways to reduce the impact of this adjustment on its financial results.

 

On Jan. 8, the Power and Water Utility Co. for Jubail and Yanbu (MARAFIQ) notified United Mining of gas price adjustments. This came after a communication from Saudi Arabian Oil Co. (Saudi Aramco) on hiking prices of the gas used in production, effective Jan. 1, according to Argaam's data.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.