ADNOC Distribution to Acquire 15 Service Stations in Saudi Arabia

ADNOC Distribution announced the execution of a definitive agreement to acquire 15 service stations in Saudi Arabia - WAM
ADNOC Distribution announced the execution of a definitive agreement to acquire 15 service stations in Saudi Arabia - WAM
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ADNOC Distribution to Acquire 15 Service Stations in Saudi Arabia

ADNOC Distribution announced the execution of a definitive agreement to acquire 15 service stations in Saudi Arabia - WAM
ADNOC Distribution announced the execution of a definitive agreement to acquire 15 service stations in Saudi Arabia - WAM

ADNOC Distribution on Thursday announced the execution of a definitive agreement to acquire 15 service stations in Saudi Arabia, reaffirming its commitment to grow its business in the Kingdom; the largest fuel retail market in the GCC.

The purchase consideration for this acquisition is AED36.7 million ($10 million). The acquisition is subject to certain conditions (including obtaining regulatory approvals).

Already the only fuel retailer operating in all seven emirates in the UAE, the addition of these new stations highlights the long term smart growth strategy to also become a leading fuel operator in Saudi Arabia.

The company sees value creation potential coming from uplift in fuel margins and the company’s integrated approach to managing fuel and non-fuel retail offerings, state news agency WAM reported.

Located in the eastern region, with sites dedicated to both highway commuters as well as in-community convenience, the new stations will be refurbished in line with ADNOC Distribution brand standards and offer high quality fuel and retail services to customers, including convenience stores.

Ahmed Al Shamsi, Acting CEO of ADNOC Distribution, said that expanding in Saudi Arabia is "is an important milestone for our company and part of our profitable growth strategy."

"We see this expansion as a natural progression since opening our first station in 2018 and look forward to significantly increasing our presence in the coming years. This is the first announcement of many we intend to make with Saudi being a key strategic market for us as we make ADNOC service stations a destination for all in Saudi."

ADNOC Distribution opened its first service station in Saudi Arabia in December 2018, located on the Riyadh-Dammam highway around 40 kilometres from the capital. It was followed shortly after by the second in the city of Hofuf within Al Ahsa Governate. Upon completion of this transaction, the new locations will bring the company’s total network to 17 across the Kingdom.



Egypt, Saudi Arabia Sign Agreement to Enhance Cooperation in Energy Efficiency

The deal includes the development of energy services companies and promotion of infrastructure for energy efficiency improvement projects. Photo: Egyptian petroleum ministry
The deal includes the development of energy services companies and promotion of infrastructure for energy efficiency improvement projects. Photo: Egyptian petroleum ministry
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Egypt, Saudi Arabia Sign Agreement to Enhance Cooperation in Energy Efficiency

The deal includes the development of energy services companies and promotion of infrastructure for energy efficiency improvement projects. Photo: Egyptian petroleum ministry
The deal includes the development of energy services companies and promotion of infrastructure for energy efficiency improvement projects. Photo: Egyptian petroleum ministry

Egypt and Saudi Arabia have signed an executive plan aimed at enhancing cooperation in the field of energy efficiency.

Under the executive plan, both countries will work together to establish a national energy efficiency program in Egypt, which will include drafting regulations and technical standards, capacity building, raising awareness, and fostering the development of energy service companies.

The plan was signed on Monday by two Egyptian ministries - petroleum and electricity and renewable energy - and Saudi Arabia’s ministry of energy in Cairo.

As per the partnership, Egypt and Saudi Arabia will exchange knowledge and offer technical support in energy efficiency improvement, in addition to building human cadres through training courses and workshops.
The deal includes the development of energy services companies and promotion of infrastructure for energy efficiency improvement projects along with facilitating supply and investment mechanisms in these projects.

Also Monday, Egyptian President Abdel-Fattah el-Sisi inaugurated the eighth edition of the Egypt Energy Show (EGYPES) 2025 in Cairo alongside Cypriot President Nikos Christodoulides and in the presence of Saudi Minister of Energy Prince Abdulaziz bin Salman.

The Saudi minister reaffirmed the Kingdom’s commitment to strengthening energy cooperation with Egypt during his address at EGYPES.

He highlighted several major joint energy initiatives as ways of enhancing regional energy security and sustainability.

As part of the collaboration, five new solar and wind energy projects will be launched in Egypt by Saudi companies, boasting a combined capacity of 1.696 gigawatts and an investment of about $1.65 billion.

The projects will be developed by ACWA Power, Alfanar, FAS, and MOWAH.

Additionally, ACWA Power signed a power purchase agreement with the Egyptian Electricity Transmission Company to develop a 2-gigawatt wind power project in the Red Sea's Hurghada.