Riyadh - Mubasher: Saudi Aramco Base Oil Company (Luberef) has extended its land lease investment agreement for the Yanbu facility with the Royal Commission for Jubail & Yanbu for 20 years, renewable.

The SAR 116.12 million agreement covers Yanbu’s primary and secondary industrial zones at Yanbu Industrial City, according to a bourse filing.

The extension aligns with the company’s long-term strategy to ensure operational continuity, improve efficiency, and support future expansion and sustainable growth.

Meanwhile, the financial impact takes effect from the start of the extension period.

During the first half (H1) of 2025, Luberef posted an annual drop of 13.22% in net profits to SAR 466.70 million, compared with SAR 537.85 million.