Neft Alsharq opens nominations for five board seats for 2027-2031 term
Neft Alsharq Company for Chemical Industries opened board nominations on October 27, 2026, with applications due by November 27. The company will elect five directors for a four-year term, according to a stock exchange filing reported by Mubasher.
Omar Al Nuaimi
Applications and election timetable
The incoming board's term is scheduled to run from January 19, 2027, through January 18, 2031. Directors will be elected at a General Assembly meeting; the company will announce the meeting date once the required regulatory approvals are in place.
Applicants must email the board secretariat with their nomination materials, including resumes and the required regulatory forms.
The company said nominations must meet the requirements of the Saudi Companies Law and the Capital Market Authority's Corporate Governance Regulations. Its own board membership policies, including eligibility and independence requirements, also apply.
Board membership and shareholder decisions
The company's board had five members as of the June 24, 2026, Ordinary General Assembly. Dr. Ibrahim bin Ali Al-Mohsen was chairman, Adel bin Abdullah Al-Mudlej was vice chairman, and Majed bin Salem Al-Ajmi served as managing director and CEO. The other two directors were Ibrahim bin Abdullah Al-Omaiqan and Mohammed bin Abdulrahman Al-Rajhi, according to a Saudi Exchange announcement.
At that meeting, shareholders chose Crowe Solutions for Professional Consulting to audit fiscal year 2026 for a fee of SAR 185,000. They also approved board remuneration of SAR 315,000 for fiscal year 2025.
Shareholders separately authorized the board to pay interim dividends quarterly or semiannually for the fiscal year ending December 31, 2026.
Listing and operations
Neft Alsharq has capital of SAR 25 million. It is listed on the Saudi Exchange's Parallel Market, Nomu, after completing its IPO on June 25, 2024. Its ticker is 9605 and its ISIN is SA16301KM2H2, according to roic.ai.
The company's products include industrial motor oils, lithium and calcium greases, and engine fluids. It manufactures them using virgin base oils from Luberef and European additives. Alongside sales in Saudi Arabia, it exports to more than 35 countries across the Middle East, North Africa and East Africa.
