The Saudi Basic Industries Corporation (SABIC) announced that the supply level of its feedstock returned to normal on September 26, 2019, according to Mubasher.
Following Aramco’s drone strikes, SABIC’s feedstock dropped to 30% after reaching 49%.
The company said that the feedstock shortage has not resulted in any material financial impact, according to a disclosure to the Saudi Stock Exchange (Tadawul).
Ranked among the world’s largest petrochemicals manufacturers, SABIC is a public company based in Riyadh, Saudi Arabia. 70% of the company’s shares are owned by the Saudi government, and the remaining 30% are publicly traded on the Saudi stock exchange.