Luberef Surges on Record Base Oil Crack Margins

Saudi Aramco Base Oil Company, also known as Luberef, has reported record financial results for H1 2026. The company's net income more than doubled year-over-year, driven by a significant surge in base oil crack margins.

The base oil crack margin surged by 49% in the first half of this year, contributing to Luberef's strong performance. This increase in revenue enabled the company to pay out an interim dividend of SAR 4 per share to its shareholders.

Luberef is a subsidiary of Saudi Aramco and operates in the refining and petrochemicals sector. The company has been investing heavily in expansion projects, including Growth II and Jazan, which are reportedly progressing as planned.