Adnoc Distribution, the UAE’s largest fuel and convenience retailer, has opened three service stations in Greater Cairo and plans to launch another six in Egypt by the end of 2023 as part of its international expansion plans.
This is the first time the company has opened its Adnoc branded service stations in Egypt.
The move comes after Adnoc Distribution bought a 50 per cent stake in TotalEnergies Marketing Egypt earlier this year.
“Today marks an important milestone in our international expansion journey as we launch Adnoc service stations in Egypt,” said Bader Al Lamki, chief executive of Adnoc Distribution.
“As a future-focused business, we continue … to address the needs of our customers and look forward to bringing more of our innovative and digitally-backed services to the Egyptian market and to exploring further opportunities to grow our portfolio.”
The joint venture with TotalEnergies finalised in February this year, includes a diversified portfolio of 240 fuel retail stations, more than 100 convenience stores, 250 lube changing stations, car washes, lubricants, wholesale and aviation fuel operations.
The joint venture has already expanded its corporate portfolio in the aviation fuels business by securing the right to supply Etihad Airways flights fuelled in Cairo. The partnership is developing the infrastructure and logistical framework to launch Adnoc Voyager, its automotive lubricants brand.
The newly opened Adnoc service stations in Egypt are in Degla Maadi, Obour City and on the Suez Ring Road. They offer a full range of vehicle services including car washes, lubricant and tyre changing with maintenance services available at the Degla Maadi and Obour City sites.
All three sites feature an Adnoc Oasis convenience store, selling a wide range of food and drinks, according to the statement.
Adnoc Distribution opened its first service station outside the UAE in 2018 by expanding into Saudi Arabia. It has more than 570 service stations including 511 in the UAE and 64 in Saudi Arabia as of June 30. It also sells lubricants in 32 countries across the world via distributors.
Revenue in the January-June period rose 4.9 per cent on an annual basis to Dh16.13 billion ($4.4 billion). The company's underlying earnings before interest, taxes, depreciation and amortisation surged 9 per cent year-on-year to Dh1.57 billion.