NADEC says fuel price adjustment to raise production, distribution costs by 1.8%

National Agricultural Development Co. (NADEC) said that Saudi Arabian Oil Co.'s (Saudi Aramco) fuel price adjustment will lead to an estimated increase of 1.8% in production and distribution costs, according to a statement to Tadawul. 

The relevant financial impact will appear as of Q1 2024, the statement added. 

NADEC received earlier a notice from Saudi Aramco regarding an adjustment in the prices of fuel products used in its operations and distributions, effective Jan. 1, 2024, Argaam reported.  

Source : Argaam