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FINANCIAL NEWS
Saudi Luberef awards Samsung expansion contract
21 Oct 2012
(MENAFN) South Korea’s Samsung Engineering has won a contract from Saudi Aramco Lubricating Oil Refining Co (Luberef) to expand an oil lubricants refinery in Yanbu, Reuters reported.
Luberef seeks to meet growing demand for lubricants in Saudi Arabia, GCC region and global markets.
Luberef’s total production at its Jeddah and Yanbu refineries would double to 1.2 million tonnes of oil lubricants annually after the expansion is completed, the company said, expecting commercial production in the fourth quarter of 2015.
Luberef is 70 percent-owned by Saudi Aramco and 30 percent by Saudi Jadwa Industrial Investment.
More News
13 Apr 2026
BBK launches the Youth Advisory Council (YAC) to empower youth and advance innovation
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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