Lobreif renews Saudi Aramco deal till 2030

The utilities services agreement between Saudi Aramco Base Oils "Luberef" and Saudi Aramco Group has been extended until December 31, 2030. The extension includes the lease of the land allocated for the company's facility in Jeddah, at a value of up to 1.018 million SAR annually, with no changes to the prices, starting from July 2026. The purpose of this extension is to ensure the continued operation of the base oils production facility and to maintain the necessary services and assets, with the possibility of renewal for additional periods.

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