Font Size
Share this article


Print Friendly Version
13 February 2020
INVESTMENT

ADNOC Distribution mulls record investment to add gas stations

The company plans to open between 20 and 25 filling station in Dubai

Outside the UAE, ADNOC Distribution is expanding its Saudi footprint where it currently operates two gas stations/Bloomberg

by 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.

 


RELATED STORIES: ADNOC Distribution ENOC Saudi Arabia Egypt


RECOMMENDED NEWS



BRANDS MAGAZINES LATEST EDITION


CPI Financial was established in Dubai in 1999 to meet the needs of an ever-expanding financial community, offering a comprehensive portfolio of market-leading products and services tailor-made for the banking and financial services sectors.


Subscribe to our News Letter

Subscribe

© 2019 CPI Financial. All rights reserved.

No part of this website may be reproduced or used in any form of advertising without prior permission in writing from the editor.