4 Hrs
Source:
الاقتصادية
Oil margins boost Louvre profits by 200
Saudi Aramco Base Oils "Luberef" achieved a 200% increase in its quarterly profits year-over-year in the second quarter, reaching 734 million Riyals compared to 245 million Riyals in the same period last year. This rise was supported by higher cracking margins for base oils. Additionally, its revenues grew by 52% to 3.4 billion Riyals, driven by increased product prices. The company has decided to distribute 673 million Riyals in dividends for the first half of 2026, along with rescheduling its second expansion project to capitalize on the higher cracking margins. The project is expected to be completed and operational in the first half of 2027. Luberef is one of the largest base oil producers in the world, with Aramco holding a 70% stake, and its products are sold in several international markets.
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