28 August 2012

ENOC & Aldrees Sign JV to Establish Service Stations in Saudi Arabia

Dubai/Riyadh - 28 August 2012 - Emirates National Oil Company (ENOC), Dubai’s leading petroleum retailer with a significant footprint in lifestyle and consumer retailing, has signed a joint venture agreement with Aldrees Petroleum & Transport Services Company (Aldrees), one of Saudi Arabia’s largest petroleum retailers and commodity hauling companies, to set up service stations in different locations across the Kingdom.

As per the 50:50 joint venture, the service stations will feature all the specialised and popular brands operated by ENOC including ZOOM, Pronto, Super Lube and Super Wash. The first station under the partnership is expected to open early next year, followed by the progressive roll-out of the rest in due course. 

Saeed Abdullah Khoory, ENOC's Chief Executive Officer, said: “ENOC is focused on expanding its business presence regionally and internationally, and Saudi Arabia is a strategic market that offers perfect market synergies for our growth.” 

“We are honoured to partner with Aldrees, a leader in petroleum retailing, to support the opening of service stations in the Kingdom and extend our capabilities in retail. This joint venture will also create new jobs for young Saudis and we will focus on strengthening their job competencies through our training programmes, thus serving as an effective partner in the Kingdom’s Vision,” he added.

Eng. Abdulelah Saad Aldrees, Chief Executive Officer of Aldrees said: “ENOC has a tremendous breadth of retailing experience that is a perfect fit for our core strengths. We are confident that the joint venture will create a new history in petroleum retailing in the GCC region and offer enhanced services for the convenience of our customers. The stations will also be of immense value to travellers, especially during the Hajj season.” 

ENOC Retail will offer its full breadth of expertise in retailing to Aldrees in developing the service stations. In addition to showcasing a choice of fuel retailing products, the stations will also have other lifestyle choices such as restaurants, fresh food and coffee, and convenient automotive services. A number of environment-friendly products and services that are offered by ENOC, such as the waterless car wash and green lubricants, will also be made available at the stations in the Kingdom. 

ENOC Retail has established itself as a petroleum retailing leader in the UAE. With more than 70 million customer transactions annually, ENOC Retail, today, has over 4,000 employees. The retail business also has many brands in the food & beverage sector, providing management services and franchising the brands across the Middle East and North Africa region. 

One of the largest petroleum retail and commodity hauling companies in Saudi Arabia with a network of more than 450 petrol filling stations, Aldrees has a fleet of 1,032 tractor heads with 1,376 cargo carriers ranging from chemical/lubricant tankers, trailers, bulkers, to flat beds. The company serves a majority of the transport market and supply fuel to key accounts in both private and government sectors. 

Source: ENOC