Saudi Arabia

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Luberef Earnings Fell in 2023

Lube Report EMEA - March 5, 2024

Luberef reported a 24% drop in net profit for full-year 2023 as the effects of decreased crack margins more than offset ...

Profits Up for Castrol, Down for Luberef

Profits Up for Castrol, Down for Luberef

Lube Report EMEA - November 7, 2023

BP reported that profit for its Castrol lubricants business rose 23% because of higher margins, and Luberef reported a 2 ...

Earnings Rise for Fuchs, Luberef

Earnings Rise for Fuchs, Luberef

Lube Report EMEA - August 1, 2023

Fuchs SE reported a 10% increase in net profit on 7% greater sales revenue for the second quarter, citing continued impa ...

Luberef Boosting Yanbu Output

Luberef Boosting Yanbu Output

Lube Report EMEA - June 13, 2023

Luberef has contracted to increase the amount of feedstock supplied to its base oil plant in Yanbu’al Bahr, Saudi Arab ...

Profits Down for Castrol, Up for Luberef

Profits Down for Castrol, Up for Luberef

Lube Report EMEA - May 9, 2023

Citing higher costs, BP reported that profits for its Castrol Lubricants business fell 37% in the first quarter, while L ...

Luberef Expansion Will Add 230,000 T/y

Luberef Expansion Will Add 230,000 T/y

Lube Report EMEA - February 28, 2023

Luberef said Sunday that a previously announced expansion of its base oil plant in Yanbu’ al Bahr, Saudi Arabia, will ...

Aramco Subsidiary Absorbs Motiva Trading

Aramco Subsidiary Absorbs Motiva Trading

Lube Report Americas - January 25, 2023

Saudi Aramco announced Jan. 18 that Houston-based Aramco Trading Americas LLC will be the sole supplier and “offtaker ...

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Petromin Reportedly Prepares IPO

Lube Report EMEA - January 17, 2023

Saudi Arabian lubricants blender Petromin plans to raise up to $1 billion via an initial public offering, Bloomberg repo ...

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Luberef Completes Stock Offer

Lube Report EMEA - December 27, 2022

Luberef said last week that it attracted strong interest to its initial public stock offering, as the retail portion of ...

Dussur Buys Stake in Italmatch

Dussur Buys Stake in Italmatch

Lube Report EMEA - December 13, 2022

Saudi investment firm Dussur has agreed to buy a minority stake in Italmatch Chemicals, a growing Italy-based company th ...

Luberef Plans IPO; Will Make Group III

Luberef Plans IPO; Will Make Group III

Lube Report EMEA - November 29, 2022

Luberef on Sunday announced plans for an initial public stock offering – which analysts estimated could raise U.S. $1 ...

Luberef Recruits Producers for LubeHub

Luberef Recruits Producers for LubeHub

Lube Report EMEA - November 22, 2022

Luberef signed memorandums of understanding with several companies this month, agreeing to explore the possibility of co ...

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Aramco Eyes Valvoline Unit

Lube Report EMEA - May 31, 2022

Saudi Aramco, the world’s largest oil company, has approached Valvoline, one of the world’s largest independent lubr ...

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IPO Considered for Luberef

Lube Report EMEA - April 5, 2022

Luberef, a base oil joint venture of Saudi Aramco, is considering an initial public stock offering that would aim to rai ...

Aramco Enters Lubricants Business

Aramco Enters Lubricants Business

Lube Report EMEA - December 7, 2021

The world’s largest crude oil supplier and one of the largest owners of base oil assets is getting back into the finis ...

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Dorf Ketal, TriBonds Form Saudi JV

Lube Report EMEA - September 21, 2021

Dorf Ketal Chemicals and TriBonds Chemical Co. announced today the formation of a joint venture that will manufacture lu ...

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Saudis Form Lubes Business Group

Lube Report EMEA - June 29, 2021

Saudi Arabia’s main business association formed a committee this month to promote reforms for the nation’s finished ...