ADNOC Distribution
 | This article is an orphan, as no other articles link to it. Please introduce links to this page from related articles; try the Find link tool for suggestions. (November 2024) |
| Company type | Public |
|---|---|
| ADX:ADNOCDIST | |
| ISIN | AEA006101017 |
| Industry | Oil & Gas |
| Founded | 1973 |
| Headquarters | Abu Dhabi, United Arab Emirates |
Key people | Bader Al Lamki (CEO)[1] Sultan Al Jaber (Chairman) |
| Products | Oil & gas distribution and marketing Convenience stores |
Number of employees | 13,000 (2024)[2] |
| Parent | Abu Dhabi National Oil Company |
ADNOC Distribution is a mobility retailer, founded in 1973 and headquartered in Abu Dhabi, United Arab Emirates (UAE). Specializing in the distribution and marketing of fuel products, the company offers a variety of services and products at its service stations, including gasoline, convenience store items, car services, and property leasing and management.[3] ADNOC Distribution's fuel station network also includes ADNOC Oasis, a chain of over 300 convenience stores, providing a variety of food, beverage, and convenience items.[4] The company operates in the UAE, Saudi Arabia, and Egypt.[2]
Abu Dhabi National Oil Company (ADNOC) is the parent company and the largest shareholder of ADNOC Distribution.[5] As of August 2024, ADNOC Distribution is the largest fuel and convenience retailer in the UAE.[6]
History
[edit]ADNOC Distribution was established by a royal decree, becoming the UAE’s first state-owned enterprise specializing in the marketing and distribution of fuel products within the UAE and abroad. In 1979, ADNOC Distribution expanded its operations by establishing a lubricant blending and packaging facility in Sas Al Nakhl, Abu Dhabi.[7]
In 2013, ADNOC Distribution acquired 75 service stations from Emarat in the Northern Emirates of the UAE. The following year, the company took over 25 service stations in Sharjah, previously operated by Emirates National Oil Company (ENOC).[7]
On 13 December 2017, ADNOC Distribution was listed on the Abu Dhabi Stock Exchange (ADX) under the symbol ADNOCDIST. The initial public offering (IPO) was priced at AED 2.50 per share, with the company selling 1.25 billion shares, representing 10% of its share capital.[8][9]
In December 2018, ADNOC Distribution inaugurated its first service station in Saudi Arabia on the Riyadh-Dammam highway, approximately 40 kilometers from Riyadh. This was soon followed by the opening of a second station in Hofuf, located within the Al Ahsa Governorate.[10] In December 2020, ADNOC Distribution entered into an agreement to acquire 15 additional service stations in Saudi Arabia for a total purchase price of AED 36.7 million (USD 10 million).[11]
The same year, the company acquired a 50% stake in TotalEnergies’ network in Egypt, which included more than 240 service stations.[12] Subsequently, in 2023, nine ADNOC-branded service stations were launched across the country.[13]
In April 2024, ADNOC Distribution entered into a strategic agreement with AD Ports Group to globally distribute marine lubricants.[14]
See also
[edit]
References
[edit]- ^ "Abu Dhabi's ADNOC Distribution appoints new CEO". gulfbusiness.com. Retrieved 4 November 2024.
- ^ a b "ADNOC Distribution Overview". pitchbook.com. Retrieved 4 November 2024.
- ^ "Abu Dhabi National Oil Co. Company Profile". MarketWatch. Retrieved 4 November 2024.
- ^ "ADNOC Distribution builds up fuel station network to 450+ locations in UAE". gulfnews.com. 2021-06-10. Retrieved 2024-11-04.
- ^ "ADNOC Distribution". Forbes Middle East. Retrieved 4 November 2024.
- ^ Singh, Marisha (2024-08-08). "Exclusive: Bader Al Lamki discusses ADNOC Distribution's double-digit growth and future plans". Retrieved 2024-11-04.
- ^ a b "How UAE's ADNOC became an energy giant | Uae-success-stories – Gulf News". web.archive.org. 2021-08-15. Retrieved 2024-11-04.
- ^ Gamble, Holly Ellyatt,Hadley (2017-12-13). "Oil giant hails success of Abu Dhabi's 'largest IPO in a decade'". CNBC. Retrieved 2024-11-04.
{{cite web}}: CS1 maint: multiple names: authors list (link) - ^ "Abu Dhabi's ADNOC Distribution fuel firm IPO raises $851m". gulfbusiness.com. 2017-12-10. Retrieved 2024-11-04.
- ^ Release, Press. "ADNOC Distribution opens first service stations in Saudi Arabia". www.zawya.com. Retrieved 2024-11-04.
- ^ Writer, Staff; TradeArabia. "Adnoc Distribution acquires 15 service stations in Saudi Arabia". www.zawya.com. Retrieved 2024-11-04.
- ^ Mansoor, Zainab (2023-02-15). "ADNOC Distribution completes acquisition of 50% stake in TotalEnergies Marketing Egypt". Retrieved 2024-11-04.
- ^ Sambidge, Andy (2024-02-26). "Adnoc Distribution reveals plans for Egypt and Saudi Arabia". AGBI. Retrieved 2024-11-04.
- ^ Benny, John. "AD Ports signs agreement with Adnoc Distribution to sell lubricants globally". The National. Retrieved 2024-11-04.
External links
[edit]
 | This United Arab Emirates-related article is a stub. You can help Wikipedia by expanding it. |