Riyadh-Mubasher: Saudi Kayan has cut its estimate for the financial impact of energy price hikes to 1% from 8.5% this year, after Saudi Aramco said it will maintain prices of some feedstock until 2017.
The financial impact will likely materialise in Q1-2016.
Kayan said that it was granted a grace period of seven years and three months for some feedstock, such as ethane, butane and methane which were supplied in 2010.
Thus, new feedstock prices will be gradually applied by the second quarter of 2017
