Louvre's Q2 profits rise 199%
Saudi Aramco's Baseline Oils Company "Luberef" achieved a significant increase in its profits during the second quarter of 2026, recording a net profit of 734.1 million SAR, a rise of 199.39% compared to the same period last year. Revenues also grew by 52% to reach 3.42 billion SAR, driven by higher prices for base oils and secondary products. Additionally, the first half of the year saw profits increase by 112.57% to 992.07 million SAR, with revenues up 27.41% to 5.58 billion SAR, along with improvements in operational and gross profit margins. The report attributed the growth to higher prices and sales of base oils and increased cracking margins, despite a decline in secondary product margins.
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