CHEMANOL announces the financial impact of the increased gas price

29/12/2015 10:01 AST

With reference to the Ministerial Resolution dated Monday 17 Rabi Al-Awwal 1437 corresponding to December 28, 2015 regarding the increment of the Gas Price that increased from 0.75 $/MMBTU to from 1.25 $/MMBTU, with additional increase from electricity charges , the company wishes to announce to its shareholders and investors the expected financial impact from this increase in prices will be around SAR 30 million per year. Such impact will be reflected on the financial results of 2016, and this will represent an additional cost of production of about 5 % compared to 2015.The company will act according to the directives from the Board of Directors to exert all possible efforts to contain these changes specially in accordance with the prevailing low prices for our products that has already impacted negatively due to lower oil prices and the fluctuations of the global economic situations, and to enhance the efficiency of production and rationalize the expenses and to enhance the spirit of the creativity for the betterment of the performance.


Tadawul

News

Chemanol refinances debt worth SR637m

30/08/2016

Saudi Arabia's Methanol Chemicals Co. (Chemanol) has refinanced total Shariah-compliant debt worth SR636.7 million ($169.8 million), according to a bourse statement. Refinancing includes SR327.7 mil

Arab News

CHEMANOL ANNOUNCES THAT A LIMITED FIRE BROKE OUT AT ITS PARAFORMALDEHY

13/07/2014

Chemanol announces that on Friday 14/09/1435 H. corresponding to 11/07/2014 afternoon a limited fire has broken out at its Paraformaldehyde Unit located in Jubail Industrial City. The fire has been c

Tadawul

Addendum announcement from Methanol Chemicals Company

23/04/2014

Further to the announcement published on Tadawul's website on 20-04-2014 related to the beginning of the non-scheduled shutdown of its Methanol plant Methanol Chemicals Company announces addendum to

Tadawul

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