Riyadh – Mubasher: Saudi Aramco Base Oil Company (Luberef) generated a 104.99% surge in net profit during the first nine months (9M) of 2026, reaching SAR 1.53 billion compared to SAR 745.53 million in 9M-25, according to a bourse filing.
The company attributed the growth primarily to improved crack margins for base oils and by-products, alongside operational efficiencies that offset lower sales volumes caused by geopolitical disruptions.
Revenue for the nine-month period rose by 27.83% to SAR 8.35 billion, supported by higher selling prices.
Free cash flow surged by 132% to SAR 1.40 billion, while earnings per share (EPS) increased to SAR 9.08 from SAR 4.43 in 9M-25.
For the third quarter (Q3) of 2026, Luberef posted a net profit of SAR 536.19 million, a 92.30% increase over the SAR 278.83 million recorded in Q3-25.
However, quarterly profit fell by 26.96% compared to the previous quarter’s SAR 734.10 million, as sales volumes and base oil crack margins softened.
The company also announced the rescheduling of a planned maintenance shutdown from October 2026 to the first half (H1) of 2027 to maintain production continuity and capture high profitability margins.
Additionally, Luberef signed a 10-year agreement to ensure feedstock supply for its Jeddah facility.
