The Saudi General Authority for Competition approved on Tuesday the acquisition by the UAE's ADNOC Distribution company of 21 additional fuel stations in the Kingdom, bringing the total number of stations owned by the Emirati company in Saudi Arabia to 35. The authority stated to "Asharq" that it approved ADNOC's acquisition of 4 stations from Miskan Al-Majdal Contracting Company and 16 stations from Fuel Petroleum Services Contracting Limited.
The authority confirmed that these acquisitions would not affect competition in the fuel station market in Saudi Arabia. In May, the authority had already approved ADNOC's acquisition of 15 fuel stations in Saudi Arabia for 36.7 million dirhams, making the total number of stations acquired by ADNOC International Distribution in the Kingdom 35 by 2021 (where 1 dollar is equivalent to 3.75 riyals).
ADNOC Distribution previously stated its commitment to its strategy aimed at expanding its operations in Saudi Arabia, which is the largest retail fuel market among Gulf countries. The company expects that the acquisition will create more value for itself due to increased fuel profit margins and an integrated approach to managing retail and non-fuel product offerings. ADNOC Distribution opened its first station in Saudi Arabia in December 2018 on the Riyadh-Dammam Expressway, followed shortly by the opening of its second station in Al-Hofuf city in Al-Ahsa governorate.
