Saudi Aramco Base Oil Company (Luberef) — Cyborg Score 7/10
Strong
Petroleum Refining & Base Oil Production
Strategic Profile
Luberef benefits from a long-term feedstock supply agreement with Saudi Aramco. As one of three members of the Aramco Base Oil Alliance, it produced 1 in every 8 barrels of base oil globally in 2021. The company operates two facilities with annual production capacity of 1.3 million metric tonnes and achieved mechanical availability of 99.7% in 2021.
Cyborg Score Rationale
As a member of the Aramco Base Oil Alliance producing 1 in 8 barrels globally, Luberef holds significant market position. 2024 revenue of 10.04 billion SAR represented 5.77% year-over-year growth. Strategic integration with Saudi Aramco and investment in innovation support sustainable operations.
Top Insights
Only virgin base oil producer in Saudi Arabia with exclusive feedstock supply agreement from Saudi Aramco
Global Alliance member: produces 1 in 8 barrels of base oil worldwide through Aramco Base Oil Alliance
Strong operational efficiency with 99.7% mechanical availability and 1.3M metric ton annual capacity
Diversified geographic presence across MENA, Americas, and Europe; recent MOU with Aramco for Jazan expansion
Named Competitors
Motiva Enterprises — Global base oil producer, Aramco Base Oil Alliance member
S-Oil — South Korean base oil producer, Aramco Base Oil Alliance member
Independent Base Oil Producers — Unaffiliated base oil manufacturers competing on cost and quality
Recent Developments
(2025) Market capitalization of 17.31 billion SAR as of February 2026
(2024) Revenue growth of 5.77% to 10.04 billion SAR
(2024) Participation in aramcoULTRA base oil innovation technology collaboration with Aramco, Motiva, and S-Oil
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