Deal to strengthen Saudi Arabia’s base Oil and Petrochemicals sectors
Bahri, a global leader in logistics and transportation, signed its first Contract of Affreightment (COA) with Luberef through its business unit, Bahri Chemicals, marking the beginning of a strategic partnership that is expected to unlock new growth opportunities in the years ahead.
This milestone reflects the shared commitment of both companies towards advancing and building resilience in Saudi Arabia’s base oils sector, while also serving as a strong example of collaboration under the Saudi Inc. initiative, which strengthens partnerships and growth among Saudi companies.
Collaboration
“This agreement with Luberef builds on our long-standing collaboration and reflects Bahri Chemicals’ commitment to delivering reliable, flexible, and customer-first maritime transportation solutions. Together with Luberef, we aim to create long-term value for our customers and contribute to the Kingdom’s economy,” commented Faisal Al Husseini, President, Bahri Chemicals.
“This agreement represents another important step in our partnership with Bahri Chemicals toward enhancing the efficiency and resilience of our operations across international markets. We look forward to further strengthening our cooperation to deliver sustainable value to customers and to advance the Kingdom’s standing in the base oil sector,” remarked Eng. Samer A. Al-Hokail, President & CEO, Luberef.
Luberef is one of the world’s leading suppliers of high-quality base oils and the only virgin base oil producer in the Kingdom of Saudi Arabia. The company serves markets in Saudi Arabia and India, in addition to various markets across the Middle East and North Africa.
