ADNOC Distribution, the UAE’s largest fuel and convenience retailer, said it has been awarded a license to own, operate and manage fuel service stations in the Kingdom of Saudi Arabia.
The Ministry of Municipal and Rural Affairs (MOMRA), which regulates the Kingdom’s fuel station industry, issued the award during a signing ceremony in Riyadh on Sunday, ADNOC said in a statement.
ADNOC Distribution said it has committed to opening one service station in Saudi Arabia in 2018, as part of its growth strategy which is focused on expanding choice for fuel customers, improving its convenience store offering and being more efficient with costs.
Saeed Mubarak Al Rashdi, ADNOC Distribution’s CEO, said: “Drawing on our 45 year history of success in the UAE, I am confident that we will bring more choice and service to customers in the Kingdom while always being mindful of our 100 per cent commitment to safety.”
ADNOC Distribution is the main fuel distributor and convenience store operator in Abu Dhabi and Northern Emirates, with an approximate 67 per cent market share by number of retail fuel service stations.
Recently ADNOC Distribution announced an agreement to open 10 Géant branded convenience stores in the UAE in 2018.
Under the deal, which followed a competitive process, 10 existing ADNOC Distribution convenience stores are being refitted with the Géant brand, along with a new design, layout and product mix including high quality fresh food, new food to go solutions, groceries, snacks and confectionery. The rebranded convenience stores will remain owned and operated by ADNOC Distribution.