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الاقتصادية
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Libref's quarterly profits boost oil margins
Leverage Base Oils "Luberef," a subsidiary of Saudi Aramco, achieved a significant increase in its profits during the second quarter of the year, reaching 734 million SAR, reflecting a 200% rise compared to the same period last year. Revenues also grew by 52% to 3.4 billion SAR, driven by higher prices for base oils and secondary products. The high cracking margins for base oils led to the highest semi-annual net profit in the company's history. Additionally, the company has decided to distribute 673 million SAR in profits for the first half of 2026. It has also rescheduled the start of its second expansion project to the first half of 2027 to capitalize on the current high profit margins. Luberef is one of the world's largest producers of base oils, with Aramco holding a 70% stake. Its products are sold in global markets, including Saudi Arabia, the Middle East, the Americas, and Europe.
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