The Saudi Arabian Refineries Company (SARCO), also known as Al-Masafi, is a well-established Saudi joint stock company. Registered under Commercial Register No. 4030003334, the firm was founded on June 14, 1960. It is listed on the Saudi Exchange (Tadawul) under the trading symbol 2030, with a paid-up capital of SAR 150 million. Over six decades, SARCO has built a strong presence in the Kingdom’s energy, investment, and real estate sectors.
History and Milestones
SARCO’s journey began in the early 1960s, aligning with the rapid growth of the Saudi economy. Since its establishment, it has expanded beyond oil refining into petrochemicals, securities, and property development. Its stock exchange listing strengthened transparency and investor confidence, making it a notable participant in the energy and investment market.
Business Activities
The Saudi Arabian Refineries Company operates in several strategic sectors:
- Crude Oil Extraction: Managing exploration and production projects in line with Saudi Arabia’s energy policies.
- Refining and Petrochemicals: Establishing and operating refinery facilities and petrochemical plants to serve domestic and regional needs.
- Real Estate and Development: Purchasing, selling, and managing land and property for industrial and commercial growth.
- Strategic Investments: Engaging in securities and long-term investment partnerships with local companies.
Corporate Governance
SARCO is managed by a professional Board of Directors and executive leadership committed to corporate governance, transparency, and accountability. Its governance structure ensures alignment with Saudi regulations and global business standards.
Financial Performance
The company maintains a solid financial base with a paid-up capital of SAR 150 million. Recent announcements, such as the transfer of statutory reserves to retained earnings and interim financial results for June 2025, highlight SARCO’s focus on strengthening its balance sheet and creating shareholder value.
Recent Developments
In 2025, SARCO implemented board-approved adjustments to its financial reserves and announced management changes, including the appointment of a new General Manager. These steps demonstrate its continued focus on efficiency, stability, and sustainable growth.
Commitment to Sustainability
The Saudi Arabian Refineries Company integrates sustainability into its operations. It supports environmental initiatives, emphasizes safe industrial practices, and contributes to community development projects that align with Saudi Arabia’s Vision 2030 goals.
Future Vision
SARCO’s strategy aims at expanding energy operations, enhancing petrochemical capacities, and diversifying investments. With a strong financial foundation and a commitment to innovation, the company is well positioned to grow its footprint in the Saudi and regional markets.
Contact Information
- Head Office: Jeddah, Saudi Arabia
- Commercial Register No.: 4030003334
- Stock Exchange Symbol: 2030 – Tadawul
- Capital: SAR 150,000,000
Saudi Arabian Refineries Company SJSC (SARCO) is a Saudi Arabia-based company, which carries out petroleum related activities. The Company is engaged in extracting crude oil, establishing refining and petrochemical plants and refineries, dealing in securities as principal, buying and selling land and real estate, dividing them and selling activities off- plan, managing and leasing owned or leased properties, investing in local companies, and. The Company, through its subsidiary Al Sadu Company for Investment, is engaged in real estate activities, financial activities, financial technology, tourism services, general construction activities, mining and quarrying activities.
Address
PO Box 1113
JEDDAH
21431
Saudi Arabia
Contact Information
+966 (1) 26517016
Industry
Petroleum Refining
Executive Leadership
Obaid S. Al SubaleChairman of the BoardAbdulrahman A. Al MufarrehChief Executive Officer, DirectorAbdulaziz A. Al BakrVice Chairman of the BoardMohammad Iqbal Radwan DaboulManaging Director, Executive DirectorFahad K. AbubakarCommunications and Public Relations ManagerAbdullah Al JuhaniShareholders Relations ManagerYacub Z. Al NazerFinance ManagerWail O. Al SubaieLegal Affairs and Compliance ManagerHussam N. QuttubAccountantKhalid Al HamdanDirectorKhalid Al HenakiDirectorMeshal A. Al OklaDirectorNael S. FayezDirectorOsama Sulaiman Al-sudaisNon-Executive DirectorAhmed Abdullah Al-MohsenIndependent Director
