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Saudi Aramco announces creation of fuel retailing arm in Saudi Arabia

Oil giant will create Saudi Aramco Retail Company (RetailCo) to engage in the direct-to-consumer segment of the downstream business.



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Saudi Aramco announced on Wednesday the creation of the Saudi Aramco Retail Company (RetailCo), a wholly-owned subsidiary established to cater for fuel retailing, creating a business that integrates across the hydrocarbon value chain.

The company is chartered with owning Saudi Aramco’s fuel retailing, delivering Saudi Aramco brand positioning, and innovating retail experience for fuel and associated non-fuel activities.

“It will leverage synergies in our business model and position us to actively participate in the customer-facing segment of the downstream value chain,” said Abdulaziz Al-Judaimi, Saudi Aramco Senior Vice President of Downstream.

RetailCo’s core business and operations will take a phased approach to expand its network of domestic fuel retail stations to cover the Kingdom.

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