|16 September, 2019

Saudi Kayan sees 50% drop in feedstock supplies

The attacks halted Aramco’s crude oil supply by 5.7mln barrels a day

Riyadh – Mubasher: The Saudi Kayan Petrochemical Company (Saudi Kayan) announced an approximate 50% cut in feedstock supplies to the company’s plants starting Saturday, 14 September.

The company is currently working on evaluating the final effects to determine the financial impact, according to a disclosure to the Saudi Stock Exchange (Tadawul) on Sunday.

Saudi Kayan clarified that it will disclose any further developments as per relevant procedures and regulations.

Earlier on Sunday, the Saudi Basic Industries Corp. (SABIC) and the National Petrochemical Company (Petrochem) announced a curtailment of feedstock supplies.

On Saturday, the Saudi Ministry of Interior has controlled fires in two of Aramco’s plants in Abqaiq and Khurais as they were targeted by drones.

In a statement on Sunday, the energy minister Prince Abdulaziz bin Salman said that the attacks halted Aramco’s crude oil supply by 5.7 million barrels a day or 50% of its output, while part of the reduction will be compensated through the company’s oil stock.

Source: Mubasher

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