Riyadh, Saudi Arabia — Saudi Aramco Base Oil Co.’s (Luberef) net profit fell 7 percent to SAR 221.5 million in Q1 2025, from SAR 239 million a year earlier.
The profit decline was attributed to a decrease in by-products sales volumes, despite an increase in base oil prices. This is in addition to a decrease in by-products crack margins, despite an increase in base oil crack margins.
Sequentially, the company’s net profit rose 6.4 percent from SAR 208.21 million in Q4 2024, driven by an increase in by-products and base oil crack margins, despite the decrease in base oil sales volumes.
Total shareholders’ equity, no minority interest, stood at SAR 4.07 billion as of March 31, 2025, compared to SAR 4.25 billion a year earlier.
