Luberef receives gas price rise notice from Saudi Aramco

02/01/2025 Argaam
Logo ofSaudi Aramco Base Oil Co. (Luberef)

Logo of Saudi Aramco Base Oil Co. (Luberef) 

Saudi Aramco Base Oil Co. (Luberef) received an official notice from Saudi Aramco on an increase in gas price, which is used in the company’s operational activities at its facility in Yanbu, starting Jan. 1.

 

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The company expects the total cost of sales to increase by nearly 0.2% of the cost of sales (SAR 13.5 million), based on the audited financial statements as of Sept. 30, 2024, according to a Tadawul statement.

 

The financial impact is anticipated to appear starting Q1 2025.

 

The current adjustment will not significantly impact the company’s net profit over the coming period.

 

Luberef will work to enhance operational efficiencies, minimize the impact of the price hike and continue delivering value to its shareholders as part of its business transformation journey, the statement added.

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