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Adnoc Distribution marks year of expansion, transformation, continued fuel & retail growth in 2023

Company’s total network of service stations stood at 840 by year-end

Adnoc Distribution continued to expand its network in 2023, surpassing its annual target of 25-35 new stations by opening 41 service stations across the UAE, Saudi Arabia and Egypt. This brought the company’s total network of service stations to 840 by year-end, including 597 in the UAE and Saudi Arabia.

The company’s international footprint was boosted by its acquisition of a 50 per cent stake in TotalEnergies Marketing Egypt, a diversified business with over 240 retail fuel stations, convenience stores, aviation and lubricant businesses.

In the second half of 2023, the first nine Adnoc-branded service stations were launched in strategic locations across Egypt to offer a full range of services to the local communities.

In 2023, the company delivered an 11.8 per cent year-on-year rise in total fuel volumes in GCC (UAE and Saudi Arabia). Retail volumes increased approximately 9.6 per cent, while commercial volumes saw around a 16.2 per cent year-on-year increase. This rise is attributed to the region’s economic growth, heightened mobility and increased contributions from assets in the Saudi Arabia.

Adnoc Distribution registered 179.7 million fuel retail transactions in 2023, having served nearly 500,000 customers every day at its UAE service stations. The company’s non-fuel retail business delivered 12.9 per cent year-on-year growth in number of transactions. In addition, it recorded a four-year-high convenience store conversion rate of 24.7 per cent.

The company continued to invest in sustainable mobility by accelerating the rollout of charging points for electric vehicles (EVs), launching the first phase of both fast and super-fast EV chargers across its service station network, ending the year with over 50 assets at strategic locations across its network.

Bader Saeed Al Lamki, CEO of Adnoc Distribution, said: “We look forward to deliver 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.”

Building on the successes of 2023, Adnoc Distribution will focus on key strategic priorities in 2024, that include achieving profitable growth, seamlessly integrating sustainability into its operations and fostering a culture of customer experience excellence.