UAE – Mubasher: Emirates National Oil Company (ENOC) on Monday revealed plans to boost its retail operations in Saudi Arabia.
The Dubai-based energy company’s retail arm aims to expand its service station network by more than eightfold to 124 stations by 2030 in a bid to meet the rising demand on fuel stations in the largest market in the GCC, according to a statement.
Over the coming five years, ENOC, owned by the government of Dubai, plans to inaugurate 45 new service stations.
During the period from 2024 to 2028, the leading group aims to boost its retail footprint in Saudi Arabia by opening 65 new stations.
ENOC continuously injects “foreign investments into the kingdom that rose by 110% in 2018 to reflect the country’s diversification to non-oil industry trade between countries through goods and consumer products,” the group’s CEO, Saif Humaid Al Falasi, said.
With 14 operating service stations in Saudi Arabia, ENOC Group earlier revealed a five-year expansion plan to open three new service stations by end of 2019 and 10 other stations by end of 2020.
Additionally, ENOC Group announced plans to expand its retail network to 191 from its current 129 service stations across the UAE by 2020 to comply with Expo 2020 Dubai.
