80. Saudi Aramco Base Oil Company (Luberef)

Country: Saudi Arabia
Sector: Energy
President and CEO: Samer A. Al-Hokail
Market Value: $6.6 billion
Sales: $2.5 billion
Profits: $403 million
Assets: $2.4 billion

Luberef is one of the largest producers of Group I and II base oils globally. It also produces various byproducts, including asphalt, marine heavy fuel oil, slack wax, extract, and sulfur. It has two facilities located on the maritime Silk Road in Yanbu and Jeddah, with a combined capacity of 1.5 million metric tonnes per annum of base oils. In February 2023, it announced the signing of an engineering, procurement, and construction contract with PETROJET for project expansion to increase the Yanbu facility base oil production capacity to approximately 1.3 million MT per annum by 2025.