Luberef is headquartered in Jeddah and operates two facilities with an annual production capacity of 1.3 million metric tonnes, making it one of three members of the Aramco Base Oil Alliance, which together produced 1 in every 8 barrels of base oil globally in 2021. The company produces various Group I and Group II Base Oils that are sold to major international, regional and national oil companies, in the Kingdom and across the globe.
The company's operations are supported by a dedicated workforce ranging from 500–1,000 employees. Luberef's substantial revenue is reported at $2.5B. As part of its production process, the company produces various by-products including naphtha, diesel, asphalt, sulfur, and heavy fuel oil. Shareholders include Saudi Aramco and Jadwa Investments.
Luberef recently announced the signing of a Memorandum of Understanding (MoU) with Aramco to explore the potential for a new base oil plant within the Jazan Refinery and Petrochemical Complex in Saudi Arabia. The company was successfully listed on the Saudi Stock Exchange in 2022, with the IPO being one of the largest that year and oversubscribed 29.5 times.
Facts compiled by Executive Moves from publicly available news and press releases on 6 June 2026. Spotted an inaccuracy? Email us and we'll review within 1 business day.
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