UAE's ADNOC makes first foray overseas with Saudi launch

ADNOC Distribution, the UAE-based fuel and convenience retailer, has announced the start of operations in Saudi Arabia
UAE's ADNOC makes first foray overseas with Saudi launch
Two ADNOC service stations opened this week, one near Riyadh and one in the Eastern Province.
By Sam Bridge
Thu 06 Dec 2018 04:14 PM

ADNOC Distribution, the UAE-based fuel and convenience retailer, has announced the start of operations in Saudi Arabia.

The company, a unit of Abu Dhabi National Oil Company, said two service stations opened this week, one near Riyadh and one in the Eastern Province.

This marks the first phase of a commitment the company made at the time of its IPO in December 2017 to grow its business, not only in the UAE but also internationally.

The company added that it is currently reviewing a number of potential options to grow its international operations.

The first of the two service stations is on the Riyadh-Dammam highway around 40km from the capital. The second is in the city of Hofuf within Al Ahsa Governate.

Saeed Al Rashdi, acting CEO of ADNOC Distribution, said: “This is an important moment in our company’s history – our first step into the international arena. We promised this to our investors a year ago and these openings mark the beginning of an exciting new chapter for our organization.

"These initial two stations are significant in that they will enable us to interact directly with Saudi customers and, where necessary, tailor our services for this important market as we continue to look at options for growth. We strongly believe that our brand and service ethic have a place within the Saudi Arabian fuel and convenience retailing sector.”

For all the latest retail news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.

Subscribe to our Newsletter

Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.