National Petrochemical Company (Petrochem) has announced that it has received notification from Saudi Arabian Oil Company (ARAMCO) that its subsidiary, Saudi Polymers Company (SPC), has been extended a grace period in which it will pay the old price for ethane and methane (USD0.75/mmBTU) as well as receiving propane at the old pricing formula (28% discount to naphtha FOB Japan). According to the announcement, the grace period for methane will end on 6 November 2018, the grace period for ethane will end on 12 August 2019, and the grace period for propane will end on 1 September 2019. Petrochem also stated that the expected financial impact of the increase in feedstock and utilities costs remains unchanged at SAR50 million and will begin to show on 2016 results. (Tadawul)