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Business
Manufacture of refined oil products, plastics and synthetic rubber, chemical products, and wholesale of solid, liquid and gaseous fuels.
Overview
The company was established in 1976 as a limited liability company in Jeddah under the name “Petromin Lubricating Oil Refining Company”, with a capital of SAR 26.30 million.
The company is the only producer of virgin base oils in the Kingdom and one of the largest producers of base oils in the world. It produces group I and group II base oils, in addition to various byproducts such as asphalt, marine heavy fuel oil (MHFO), slack wax, bright stock extract and sulfur, as well as white products including ultra-low sulfur diesel (ULSD), naphtha and drilling fluid.
Basic Information
| City: | Jeddah |
| Country | Saudi Arabia |
| Ownership Type: | Joint Stock |
| Establishment Date: | 1976 |
| Commercial Register: | 4030010447 |
| Website: | www.luberef.com |
| IR@luberef.com | |
| Phone | +966 92 0003550 |
| Fax | +966 12 2685250 |
| Address | 7168 Al Mina Road - Petromin District - Aramco Campus - Jeddah 22411 |
| PO Box | 5518 |
Argaam Classification
Industry Peers
| Saudi Arabia Refineries Co. |
Financials Highlights (M )
Company Size
| Chart | 2022 | 2021 | 2020 | 2019 | 2018 | ||
| No. of Employees | 588 | 609 | 620 | 624 | - | ||
| No. of Branches | - | - | - | - | - |
Trading Data
| Stock Market : | TASI |
| Fiscal Year End : | December |
| Free Float (M) : | 50.63 |
| Free Float % : | 30.00 |
| Weight in Index % : | 0.31 |
| 3M Average Volume : | 1,053,285 |
| 3M Average Transactions : | 4,237 |
| Change(12M) % : | - |
Major Shareholders
| Name | Number of Shares (M) | Holding |
|---|---|---|
| The Saudi Arabian Oil Company | 118.13 | 70.00 % |
Subsidiaries & Associates
| Company | Country | Percentage |
|---|---|---|
| Luberef M.M.h | UAE | 100.00 % |
Milestones
18-08-2022
It was converted into a joint stock company.
30-06-2022
The company’s capital was increased from SAR 441 million to SAR 1.687 billion through capitalizing retained earnings.
2022
Two loading arms for the company were commissioned in Saudi Aramco’s Yanbu port.
2017
Phase I of Yanbu expansion was completed, and the company started producing group II base oils.
27-01-2014
The company incorporated Luberef FZE in the UAE.
06-02-2013
The company’s name was changed to Saudi Aramco Base Oil Company – Luberef.
20-06-1998
The company’s name was changed to Saudi Aramco Lubricating Oil Refining Company.
1997
The Yanbu facility was commissioned with a production capacity of approximately 300,000 metric tons.
23-07-1994
The company’s capital was increased from SAR 105 million to SAR 441 million.
05-05-1987
The company’s capital was increased from SAR 26.26 million to SAR 105 million.
1977
The Jeddah facility was commissioned with a production capacity of approximately 180,000 metric tons of group I base oils.
19-06-1976
It was established as a limited liability company under the name “Petromin Lubricating Oil Refining Company”, with a capital of SAR 26.26 million.
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