Adnoc Distribution, a prominent player in the fuel and retail sector, has marked 2023 as a year of significant expansion, transformation, and sustained growth. The company surpassed its annual target by opening 41 new service stations across the UAE, Saudi Arabia, and Egypt, expanding its total network to 840 stations, including 597 in the UAE and Saudi Arabia.
This expansion was further bolstered by the acquisition of a 50 percent stake in TotalEnergies Marketing Egypt. This strategic move has diversified Adnoc Distribution’s business, adding over 240 retail fuel stations, convenience stores, aviation, and lubricant businesses to its portfolio.
The second half of 2023 saw the launch of the first nine Adnoc-branded service stations in Egypt, offering comprehensive services to local communities. This international growth signifies the company’s commitment to expanding its global footprint.
In terms of fuel volumes, Adnoc Distribution recorded an 11.8 percent year-on-year increase in the GCC, driven by the region’s economic growth and heightened mobility. Retail volumes saw a 9.6 percent increase, while commercial volumes rose by 16.2 percent, thanks to contributions from assets in Saudi Arabia.
The company also achieved significant milestones in retail transactions, registering 179.7 million fuel retail transactions and serving nearly 500,000 customers daily at its UAE service stations. The non-fuel retail business saw a 12.9 percent growth in transaction numbers, with a convenience store conversion rate reaching a four-year high of 24.7 percent.
Investing in sustainable mobility, Adnoc Distribution accelerated the rollout of charging points for electric vehicles (EVs). By the end of the year, the company had installed over 50 EV charging assets at strategic locations across its network, including both fast and super-fast chargers.
Bader Saeed Al Lamki, CEO of Adnoc Distribution, expressed optimism for the future. “We look forward to delivering continued growth for the business, our shareholders, customers, and partners in 2024. We will leverage our global footprint, cutting-edge technology, and a customer-centric approach to fuel the next phase of our success,” he said.
With the successes of 2023 under its belt, Adnoc Distribution is setting its sights on key strategic priorities for 2024. These include achieving profitable growth, integrating sustainability seamlessly into operations, and fostering a culture of customer experience excellence. This forward-looking approach underscores the company’s commitment to evolving and expanding its services, catering to the changing needs of its customers while contributing positively to the broader economy.
