Saudi Aramco Base Oil Company (Saudi Arabia)

The purpose of the Company is to construct, own and operate refineries of lubricating oils and to purchase, sell, transport, market, import and export lubricating oils, additives, lubricating oil blending stocks, by-products and other related petroleum products.
The Company's activities are manufacturing of refined oil products, manufacturing of plastics and synthetic rubber in primary form, manufacturing of other chemical products that are unspecified in another position, and wholesale of solid, liquid and gaseous fuels and related products. As one of the largest producers of base oils globally, the Company ss base oils are exported around the world. In addition to directly exporting its base oils throughout the Middle East, Pakistan and Africa, the company is able to export its products further afield, as well as import Group III base oils into the Kingdom, through its membership of the company.
The Company keeps the world in motion. From its two facilities, strategically located on the maritime Silk Road in Yanbu and Jeddah, it has a combined capacity to produce 1.3 million metric tonnes per annum of base oils. From light vehicles such as passenger cars, to more heavy goods vehicles such as buses and earth movers, base oils are used in a wide range of applications and help to power functions such as gear oils and transmission fluids. its products not only help power vehicles but are an important component for all types of machinery. Base oils are critical across multiple industries, where hydraulic, turbine and transmission fluids are required for production and manufacturing machinery such as in the steel industry, food production, textiles and clothing.
The Company offers three categories of base oils: aramcoDURA (Group I base oils), aramcoPRIMA (Group II) and aramcoULTRA (Group III). It also produces various by-products. As an integral part of so many industries, its products impact millions of lives around the world.
The Company s Mission is to achieve excellence in the production of base oils and speciality products in key end markets.
The Company s Vision is to be a leading supplier of premium base oils and speciality products in key end markets.
The Company was incorporated as a limited liability company pursuant to its original articles of association which were signed on 1396-21-06H (19/06/1976G) and registered with the commercial registration in Jeddah under number (4030010447) on 03/09/1396H (corresponding to 29/08/1976G). The Company was incorporated under the name Petromin Lubricating Oil Refining Company with a fully paid cash share capital of twenty-six million two hundred sixty thousand Saudi Riyals (SAR 26,260,000) divided into two thousand six hundred twenty-six (2,626) cash shares each with nominal value of ten thousand Saudi Riyals (SAR 10,000).
The Company was established by the General Petroleum and Mineral Organization (“Petromin”), owning 70 , and Mobil Petroleum Company, Inc. (“Mobil”), owning 30 of the Company's share capital.
On 07/09/1407H (corresponding to 05/05/1987G), the Company's shareholders resolved to increase the Company's share capital from twenty-six million two hundred sixty thousand Saudi Riyals (SAR 26,260,000) to one hundred five million Saudi Riyals (SAR 105,000,000) divided into ten thousand five hundred (10,500) cash shares each with a nominal value of ten thousand Saudi Riyals (SAR 10,000) by way of proportional cash contribution by each Shareholder. The Company continued to be owned by Petromin (70 ) and Mobil (30 ).
On 15/02/1415H (corresponding to 23/07/1994G), the Company's shareholders resolved to increase the Company's share capital from one hundred five million Saudi Riyals (SAR 105,000,000) to four hundred forty-one million Saudi Riyals (SAR 441,000,000) divided into forty-four thousand one hundred (44,100) cash shares each with a nominal value of ten thousand Saudi Riyals (SAR 10,000), by way of transferring three hundred thirty-six million Saudi Riyals (SAR 336,000,000) from the accumulated profits account.
On 22/02/1417H (corresponding to 08/07/1996G), Council of Ministers resolution no. (29) was issued, which transferred Petromin's shares in the Company to Saudi Aramco. Therefore, Saudi Aramco became a shareholder in the Company owning (70 ) of the share capital, with the remaining (30 ) continuing to be held by Mobil.
On 16/02/1419H (corresponding to 20/06/1998G), the Company's shareholders resolved to change the Company's name to Saudi Aramco Lubricating Oil Refining Company.
On 21/11/1428H (corresponding to 01/12/2007G), Mobil sold its stake in the Company, which amounted to thirteen thousand two hundred thirty (13,230) shares, representing (30 ) of the Company's share capital, to Jadwa, and the Company became owned by Saudi Aramco (70 ) and Jadwa (30 ).
On 25/03/1434H (corresponding to 06/02/2013G), the Company's shareholders resolved to change the Company's name to Saudi Aramco Base Oil Company – Luberef, which is the Company's current name.
On 01/12/1443H (corresponding to 30/06/2022G), the Company's shareholders resolved to increase the Company's share capital from four hundred forty-one million Saudi Riyals (SAR 441,000,000) divided into forty-four thousand one hundred (44,100) shares each with a nominal value of ten thousand Saudi Riyals (SAR 10,000) to one billion six hundred eighty-seven million five hundred thousand Saudi Riyals (SAR 1,687,500,000) fully paid divided into one hundred sixty-eight million seven hundred fifty thousand (168,750,000) ordinary shares with ten Saudi Riyals (SAR 10) nominal value each, by way of capitalizing one billion two hundred forty six million five hundred thousand Saudi Riyals (SAR 1,246,500,000) of retained earnings, and to convert the Company from a limited liability company to a joint stock company.
On 20/01/1444H (corresponding to 18/08/2022G), the Ministry of Commerce issued resolution number (1173) announcing the conversion of the Company from a limited liability company to a joint stock company with a fully paid share capital of one billion six hundred eighty-seven million five hundred thousand Saudi Riyals (SAR 1,687,500,000) fully paid divided into one hundred sixty-eight million seven hundred fifty thousand (168,750,000) ordinary shares with ten Saudi Riyals (SAR 10) nominal value each.
The Company was listed in December 28, 2022