Aldrees sees better services on updated terms, has 170 stations under construction: CEO

Abdulelah Aldrees, CEO of Aldrees Petroleum and Transport Services Co.

Aldrees Petroleum and Transport Services Co. (Aldrees) expects the updated conditions for fuel stations and service centers to raise the level of provided services, especially amid the presence of individual operators and unorganized players, said CEO Abdulelah Aldrees.

In a phone call with Argaam, he said that the announcement of the updated requirements and regulations will change the market dynamics and help qualified companies to compete in all fields, whether on the level of market presence or providing premium services.

Aldrees also highlighted the resilience of such requirements upon implementation for existing stations, noting that the company will apply the updated requirements in its new under-construction stations.

There will besome challenges upon application and they are under study, said the CEO, adding that Aldrees will be able to overcome them by increasing its revenues both vertically and horizontally.

He added that all of the company's stations, which reached 818 at the end of Q3 2023, are subject to the classification of fuel stations and service centers, noting that Aldrees has 170 under-construction stations, a number of which are to be delivered shortly.

The CEO also ruled out the closure of any stations upon implementing the spatial regulation terms, indicating that the sector will see a lot of changes that align with Vision 2030, which ensure a better level of services. Additionally, Abdulelah mentioned that the company's experience enables it to adapt and meet any requirements contributing to these changes.

The Saudi Permanent Executive Committee for Fuel Stations and Service Centers issued the updated terms and conditions for fuel stations and service centers, indicating that the existing stations have a corrective period of 12 months from the issuance date. The decision excluded the corrective periods specified in some requirements, with the exception of site requirements and station location distances, data available to Argaam showed.