ADNOC eyes Saudi Arabia and India for expansion

The company assess to open fuel stations in Saudi Arabia to capture untapped growth, and to introduce lubricants in the Indian market.

ADNOC Distribution, UAE's largest fuel retailer, is assessing potential opportunities in Saudi Arabia’s fuel retail market and India’s lubricant market as the company plans on expanding its global footprint.

"We are progressing well on our international expansion strategy. We are in advanced discussions with several counterparties including landlords and retail fuel operators in Saudi Arabia to grow organically, as well as continue to explore inorganic growth opportunities. We see the Saudi Arabian fuel market as large and fragmented with underdeveloped customer offerings," ADNOC says in its Management Discussion and Analysis Report released during second-quarter results.

"We are also assessing potential opportunities in the Indian lubricants market to achieve disciplined growth and operational success, while targeting the highest return on investment," it added.