UPDATE: Feedstock supply normalized at Saudi plants
UPDATE: Feedstock supply normalized at Saudi plants
According to a series of official announcements major petrochemical producers made on The Saudi Stock Exchange (Tadawul), feedstock supply to these plants has returned to normal level on 26 September 2019.
The below table details out the improvement in the feedstock supply for each plant:
|
Company |
Last Update |
Current Status |
|
Combined and reported by CommoPlast |
||
|
Yanbu National Petrochemical Company (Yansab) |
-17% |
Normal |
|
Saudi Kayan Petrochemical Company (Saudi Kayan) |
-37% |
Normal |
|
National Industrialization Company (Tasnee) |
-25% |
Normal |
|
Advanced Petrochemical Company (APC) |
-20% |
T.B.A |
|
Saudi Basic Industries Corporation (SABIC) |
-30% |
Normal |
|
Rabigh Refining and Petrochemical Co. (Petro Rabigh) |
-20% |
Normal |
Advanced Petrochemical Company (APC) has yet to make any announcement regarding the latest feedstock status at the time this report is published.
According to a statement from Sabic, “After evaluating the final effects, there is no material financial impact from the event.”
As reported earlier, on 14 September 2019, a series of drone attack targeting Saudi Aramco’s most important oil processing center and oil field that reportedly disrupted 5% of global supply or 5.7 million barrels per day. Several petrochemical companies in Saudi that rely on Saudi Aramco for feedstock are forced to lower production rate following the attack.