On August 11, 2026, Saudi Aramco Base Oil Company – Luberef announced the extension of its Utilities Sales Agreement with Saudi Arabian Oil Company ("Saudi Aramco"), which includes the land lease for the Company's Jeddah Facility. The contract, signed on August 9, 2026, extends the agreement from July 1, 2026 until December 31, 2030, with the option for renewal. The annual land lease value is SAR 1,018,217.48, while other services under the agreement are calculated based on various rates specified therein, with no changes to existing prices. This extension supports Luberef's long-term strategy to ensure operational continuity at its Jeddah Facility and the continuation of Group I Base Oil production.

Original announcement:

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