Shell Saudi aims to open fuel stations in Riyadh by Q1 2024: CEO

Mohammed Alzumaia, CEO of Shell (Saudi Arabia & Bahrain)

The Saudi Arabian market offers several opportunities arising out of new directions the country has carved out, in line with the Vision 2030, Shell CEO (Saudi Arabia & Bahrain) Mohammed Alzumaia told Argaam in an interview.

He added that Shell actively seeks opportunities that that create additional value.

The Saudi market is witnessing immense growth and Shell is working to keep pace with it, Alzumaia said, adding that the company is gearing to expand and grow in this market in light of the investment plans to keep pace with the Vision 2030.

He also stated that the company has been present in Saudi Arabia for more than 80 years, and has more than one investment. One of its investments is its 50%-owned Aljomaih and Shell Lubricating Oil Co. (JOSLOC), which is a factory for mixing oils and distribution in Riyadh.

Shell Saudi Arabia signed a commercial franchise for gas stations with Asyad Holding Group last year. The project license from the Ministry of Energy was issued three months ago.

The company is also currently working on several fuel stations, and some are expected to open in Riyadh during the first quarter of next year.

Shell plans to ensure presence across all cities in the Kingdom, with special attention to high-density cities such as Riyadh, Dammam, Jeddah, Makkah and Madinah.

The fuel station market in Saudi Arabia is a huge with an average of approximately 10,000 stations, and includes major local and international competitors, Alzumaia noted. Shell aspires to hold a good share in this market, backed by its experience as the largest global company in the field with nearly 46,000 stations across the world, which serve more than 30 million customers daily.

The CEO added that the company signed a supply agreement with Saudi Aramco to exploit and use chemical catalysts in a recycling plant in Jubail Industrial City in partnership between Shell, AMG Recycling and United Company for Industry (UMI).

He further noted that Shell is one of the leading companies in the lubricants sector in Saudi Arabia, indicating that it always looking to be one of the first companies, particularly in light of fierce competition.

Alzumaia added that the company has started opening customer service centers, such as car maintenance and others, and aspires to hold a large share in this field.