ADNOC Distribution plans to buy SAR 37.5 mln fuel distribution assets in Saudi Arabia

28/12/2020 Argaam

ADNOC Distribution's fuel station

Abu Dhabi National Oil Company for Distribution's board of directors will meet on Dec. 30, 2020, to decide on the acquisition fuel distribution assets in Saudi Arabia for SAR 37.5 million ($10 million), the company said in a statement issued on the Abu Dhabi Securities Exchange.

 

In 2018, ADNOC Distribution, a subsidiary of the ADNOC Group, announced obtaining a license under which it would own, operate and manage fuel stations across the Kingdom. It then followed with the opening of two service stations.

 

It is worth noting that Dubai government-owned ENOC Group opened several petrol stations in the Kingdom.

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