Lubrif's Q2 profits rise 199percent

Saudi Aramco Luberef Base Oils achieved a significant increase in profits during the second quarter of 2026, recording earnings of 734.1 million riyals, representing a 199.39% increase compared to the same period last year. The profits also grew by 184.57% compared to the first quarter. The financial growth was driven by rising base oil prices and improved refining margins, alongside higher oil prices and sales, despite narrowing margins on secondary products. Additionally, revenues for the quarter surged by 52% year-over-year to reach 3.42 billion riyals. First-half profits more than doubled, increasing by 112.57% to 992.07 million riyals, with revenues growing to 5.58 billion riyals. Overall profitability also jumped, with equity rising to 4.97 billion riyals and earnings per share up to 5.90 riyals.

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