Outside the UAE, ADNOC Distribution is expanding its Saudi footprint where it currently operates two gas stations/Bloombergby Bloomberg
Abu Dhabi National Oil Company (ADNOC) for Distribution expects to more than double capital expenditure in 2020 as part of a push to open at least 60 new gas stations.
The Abu Dhabi government-backed fuel retailer will spend between AED 1.1 billion ($300 million) and AED 1.5 billion to fund an ambitious new station delivery schedule for 2020. Capital expenditure in 2019 was AED 508 million.
While ADNOC Distribution dominates fuel retailing in Abu Dhabi, most gas stations in Dubai are operated by Emirates National Oil Company (ENOC). ADNOC Distribution opened three stations in Dubai in 2019, bringing its total there to six.
Outside the UAE, ADNOC Distribution is expanding its Saudi Arabia footprint where it currently operates two gas stations.
Mohamed Al Hashemi, ADNOC Distribution’s Chief Operating Officer, said, “As we speak we have a handful of sites in Saudi that are clearing investment committee decision, we know exactly which sites, we know the volumes.”
Dubai-based ENOC also plans to expand in Saudi Arabia. The fuel retailer announced plans late in 2018 to open 45 new service stations in the Kingdom over five years.
Beyond Saudi Arabia, ADNOC Distribution targets growth in India and is very actively looking at opening stations in Egypt, said Hashemi.