Tasnee expects that its consolidated results for the fiscal 2016 will be impacted by the increased gas and energy prices.

The increase in gas and energy prices was announced by the Council of Ministers through a resolution on Dec. 28, which was based on average production volumes and the current price of propane.

Tasnee stated that the financial impact from such increases on its consolidated results for 2016 could be approximately SR190 million, even as it continues to implement its operational improvement and cost reduction programs, which are likely to have a positive impact on its cost structure.