‎MEPCO says fuel prices raised

Middle East Paper Co. (MEPCO)received an official notice from Saudi Aramco on hiking the prices of fuel as of Jan. 1.

In a statement to Tadawul, MEPCO said it expects an increase of nearly 2.6% in the annual cost of sales based on the 2023 audited financial statements of the company. The financial impact is likely to show starting Q1 2025.

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It maintains effort to enhance operating efficiency and development in a sustainable manner, invest in developing production technologies, and maximize benefit from the competitive infrastructure in the Kingdom, the statement added.

Middle East Paper Co. (MEPCO)received an official notice from Saudi Aramco on hiking the prices of fuel as of Jan. 1.

In a statement to Tadawul, MEPCO said it expects an increase of nearly 2.6% in the annual cost of sales based on the 2023 audited financial statements of the company. The financial impact is likely to show starting Q1 2025.

It maintains effort to enhance operating efficiency and development in a sustainable manner, invest in developing production technologies, and maximize benefit from the competitive infrastructure in the Kingdom, the statement added.