Adnoc Distribution, the UAE’s largest fuel and convenience retailer, has opened a new service station in Saudi Arabia, the first to be fully constructed and operated by the company in the kingdom.
Adnoc Distribution will bring its modern fuel and retail convenience offering along with integrated Adnoc Oasis stores, car wash units and vehicle service centres to the country, the company said on Monday.
The Abu Dhabi-listed company plans to open more Adnoc service stations in Saudi Arabia this year and in 2022, in line with its smart growth strategy it said.
“We reaffirmed our commitment to Saudi Arabia through the intention to expand our presence both through acquisition and organic growth," Bader Saeed Al Lamki, chief executive of Adnoc Distribution, said.
"Having first opened in the kingdom in 2018, this continued expansion is an integral part of our company’s overarching strategic growth plans. We look forward to more openings.”
The company received clearance to acquire 35 stations in Saudi Arabia, with 10 new stations added to the network as of November 8. It is set to open up to 45 stations in the kingdom.
Adnoc Distribution had 459 fuel stations across the UAE at the end of September, with 31 stations in Dubai contributing to incremental volumes.
The company's net profit for the first nine months of the year rose more than 6 per cent to Dh1.68 billion ($457.8 million) due to the recovery of fuel volumes amid the ongoing post-coronavirus growth in the UAE.
Revenue for the nine months through to the end of September rose about 23 per cent to Dh14.7bn.
In May, Adnoc Distribution joined the MSCI Emerging Markets index, which is tracked by funds with assets worth billions of dollars. It joined nine other UAE-listed companies that are part of the index.
The company was also included in the FTSE Emerging Markets Index in September. The index tracks stocks from emerging markets globally and includes large and medium-cap securities.
How being social media savvy can improve your well being
Next time when procastinating online remember that you can save thousands on paying for a personal trainer and a gym membership simply by watching YouTube videos and keeping up with the latest health tips and trends.
As social media apps are becoming more and more consumed by health experts and nutritionists who are using it to awareness and encourage patients to engage in physical activity.
Elizabeth Watson, a personal trainer from Stay Fit gym in Abu Dhabi suggests that “individuals can use social media as a means of keeping fit, there are a lot of great exercises you can do and train from experts at home just by watching videos on YouTube”.
Norlyn Torrena, a clinical nutritionist from Burjeel Hospital advises her clients to be more technologically active “most of my clients are so engaged with their phones that I advise them to download applications that offer health related services”.
Torrena said that “most people believe that dieting and keeping fit is boring”.
However, by using social media apps keeping fit means that people are “modern and are kept up to date with the latest heath tips and trends”.
“It can be a guide to a healthy lifestyle and exercise if used in the correct way, so I really encourage my clients to download health applications” said Mrs Torrena.
People can also connect with each other and exchange “tips and notes, it’s extremely healthy and fun”.
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The Bloomberg Billionaire Index in full
1 Jeff Bezos $140 billion
2 Bill Gates $98.3 billion
3 Bernard Arnault $83.1 billion
4 Warren Buffett $83 billion
5 Amancio Ortega $67.9 billion
6 Mark Zuckerberg $67.3 billion
7 Larry Page $56.8 billion
8 Larry Ellison $56.1 billion
9 Sergey Brin $55.2 billion
10 Carlos Slim $55.2 billion
