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Saudi Aramco should clarify the new cost of the gas feedstock - SIIG

September 15/2011

(Arabian oil and gas) -- Saudi Industrial Investment Group (SIIG) says Saudi Aramco should clarify the new cost of the gas feedstock, to allow local petrochemical companies to make future plans.

Suliman Mohammed al-Mandeel , delegate member of SIIG said in a TV interview with the al-Arabiya TV Channel that as Saudi Aramco is due to increase the gas feedstock by next year, it is better to clarify the cost now.

Decision makers should take into consideration the recent international development of gas exploitation mainly related to the shale gas, as it gives competitive advantage for US and European petrochemical companies compared to before where high feedstock cost gave strong advantage for local producers over western companies, al-Arabiya quoted al-Mandeel as saying.

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