Logo ofSaudi Aramco Base Oil Co. (Luberef)
Saudi Aramco Base Oil Co. (Luberef)announced the extension of the land lease investment agreement for the Yanbu facility with the Royal Commission for Jubail Yanbu (RCJY) for SAR 116.1 million for the entire agreement period. 
In a statement to Tadawul, the company noted that the extension will be for 20 Hijri years, starting Rajab 1, 1446, or Jan. 1, 2025. The agreement may be renewed upon the company’s request and RCJY’s acceptance.
The deal was signed on Oct. 23, with the financial impact starting from the extension date, the statement added.
The extension aligns with Luberef’s long-term strategy to ensure the continuity of its operations, enhance operational efficiency, and support its expansion and sustainable growth plans.
There are no related parties in the deal, the company stated.
Logo ofSaudi Aramco Base Oil Co. (Luberef)
Saudi Aramco Base Oil Co. (Luberef)announced the extension of the land lease investment agreement for the Yanbu facility with the Royal Commission for Jubail Yanbu (RCJY) for SAR 116.1 million for the entire agreement period.
In a statement to Tadawul, the company noted that the extension will be for 20 Hijri years, starting Rajab 1, 1446, or Jan. 1, 2025. The agreement may be renewed upon the company’s request and RCJY’s acceptance.
The deal was signed on Oct. 23, with the financial impact starting from the extension date, the statement added.
The extension aligns with Luberef’s long-term strategy to ensure the continuity of its operations, enhance operational efficiency, and support its expansion and sustainable growth plans.
There are no related parties in the deal, the company stated.
