Adnoc Distribution, the UAE’s largest fuel and convenience retailer, has struck three new deals with its parent Adnoc as part of its growth strategy which focuses on product diversification.
The company entered into an agreement with Adnoc for the sale of base oil, which it will purchase until the end of 2026, Adnoc Distribution said in a statement to the Abu Dhabi Securities Exchange, where its shares are traded.
The new deal replaces one that was scheduled to expire at the end of this year. It will provide the company with higher volumes, it said.
Adnoc Distribution also struck a white spirit supply agreement with Adnoc to help the company increase its market share in the long term.
“This is part of Adnoc Distribution’s smart growth strategy in the commercial business, which includes horizontal diversification,” it said. The contract will expire at the end of 2026.
The company also entered into a new carbon black supply agreement with Adnoc, which will run until the end of this year.
“The contract enables Adnoc Distribution to test the market in carbon black,” it said.
White spirit is a petroleum-derived liquid used as a solvent in painting, while carbon black is used in tyres and rubbers.
Adnoc Distribution, which operates 464 retail fuel stations and 350 convenience stores in the UAE as of March 31, has been expanding its portfolio.
It reported a more than 6 per cent increase in its first-quarter profit to Dh671 million ($182.8m) as a result of higher revenue.
Revenue for the reporting period surged more than 57 per cent to Dh6.74 billion, driven by higher fuel selling prices amid a rise in crude prices globally. Growth in both fuel volumes and non-fuel business boosted revenue.
The company also operates 55 retail fuel stations in Saudi Arabia.
In March, the company's shares were included in the FTSE ADX 15 Index that represents the top 15 companies on the ADX main market.
Last year, Adnoc Distribution also joined the MSCI Emerging Markets index, which is tracked by funds with assets worth billions of dollars.
In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
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At Manchester United Appearances: 559; Goals: 253
Tips for job-seekers
- Do not submit your application through the Easy Apply button on LinkedIn. Employers receive between 600 and 800 replies for each job advert on the platform. If you are the right fit for a job, connect to a relevant person in the company on LinkedIn and send them a direct message.
- Make sure you are an exact fit for the job advertised. If you are an HR manager with five years’ experience in retail and the job requires a similar candidate with five years’ experience in consumer, you should apply. But if you have no experience in HR, do not apply for the job.
David Mackenzie, founder of recruitment agency Mackenzie Jones Middle East
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
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Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Israel Palestine on Swedish TV 1958-1989
Director: Goran Hugo Olsson
Rating: 5/5
Types of bank fraud
1) Phishing
Fraudsters send an unsolicited email that appears to be from a financial institution or online retailer. The hoax email requests that you provide sensitive information, often by clicking on to a link leading to a fake website.
2) Smishing
The SMS equivalent of phishing. Fraudsters falsify the telephone number through “text spoofing,” so that it appears to be a genuine text from the bank.
3) Vishing
The telephone equivalent of phishing and smishing. Fraudsters may pose as bank staff, police or government officials. They may persuade the consumer to transfer money or divulge personal information.
4) SIM swap
Fraudsters duplicate the SIM of your mobile number without your knowledge or authorisation, allowing them to conduct financial transactions with your bank.
5) Identity theft
Someone illegally obtains your confidential information, through various ways, such as theft of your wallet, bank and utility bill statements, computer intrusion and social networks.
6) Prize scams
Fraudsters claiming to be authorised representatives from well-known organisations (such as Etisalat, du, Dubai Shopping Festival, Expo2020, Lulu Hypermarket etc) contact victims to tell them they have won a cash prize and request them to share confidential banking details to transfer the prize money.
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UAE currency: the story behind the money in your pockets
Another way to earn air miles
In addition to the Emirates and Etihad programmes, there is the Air Miles Middle East card, which offers members the ability to choose any airline, has no black-out dates and no restrictions on seat availability. Air Miles is linked up to HSBC credit cards and can also be earned through retail partners such as Spinneys, Sharaf DG and The Toy Store.
An Emirates Dubai-London round-trip ticket costs 180,000 miles on the Air Miles website. But customers earn these ‘miles’ at a much faster rate than airline miles. Adidas offers two air miles per Dh1 spent. Air Miles has partnerships with websites as well, so booking.com and agoda.com offer three miles per Dh1 spent.
“If you use your HSBC credit card when shopping at our partners, you are able to earn Air Miles twice which will mean you can get that flight reward faster and for less spend,” says Paul Lacey, the managing director for Europe, Middle East and India for Aimia, which owns and operates Air Miles Middle East.
