Saudi Sipchem: Energy Reforms to Impact Financials

Saudi International Petrochemical Co (Sipchem) said on Tuesday that changes to energy and gas feedstock prices announced by the government last week would impact its financials by around 120 million riyals ($32 million).

The mid-sized petrochemical company did not disclose over what time period this figure covered but said in the bourse filing that it would start seeing the financial impact from the first quarter of 2016.

Sipchem did not provide further details

Reporting by David French