Abu Dhabi – Mubasher: ADNOC Distribution, the leading fuel distributor in the UAE, plans to extend its presence in Dubai and Saudi Arabia, acting CEO Saeed Mubarak Al Rashdi said.
The company has already begun the infrastructure work at 13 new fuel service stations across Dubai that are set to launch by the end of 2019, Al-Ittihad Newspaper reported, citing Al Rashdi.
This comes as part of the ADNOC Distribution’s plan to build 25 to 30 stations this year, mostly in Dubai, he highlighted.
This would bring the total number of the company’s operational stations to 400 early 2020, he noted.
Al Rashdi also indicated that ADNOC Distribution has opened two stations in Saudi Arabia that only sell fuel and is planning to open two or three integrated stations in the kingdom over the coming five months.
Accordingly, ADNOC Distribution’s total stations in the kingdom will reach five stations, including three integrated ones that provide services, products, and food outlets, he added.
He stressed that the company aims to expand in the Indian market, the world’s third-largest market of motor oil.
On Sunday, ADNOC Distribution reported a 4.3% year-on-year increase in its net profit for the first half of 2019, recording AED 1.173 billion, versus AED 1.124 billion.
The company’s revenue fell by 6.3% year-on-year during the first six months of the year to AED 10.274 billion from AED 10.967 billion.
