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Saudi Aramco breaks into retail fuel retail for the first time
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Saudi Aramco has announced the establishment of a new company, Saudi Aramco Retail, a wholly-owned subsidiary that is working to meet the needs of consumers of automotive fuel as part of Aramco's quest to develop sustainable and profitable businesses that integrate with Saudi Aramco. Hydrocarbon value chain.
According to a statement issued by Aramco, the new company will operate the Saudi Aramco retail business, promote its brand, develop fuel sales services and other business related to gas stations.
The statement said on the Aramco website that the company will be characterized by sufficient flexibility in the performance of its work, which will enable it to adapt to developments in the retail sector.
"Full integration across the hydrocarbon value chain is the most appropriate way to maximize the value of our resources. We are interested in establishing this company that enhances interaction in our business model and makes us more partners," said Abdul Aziz Al Qadimi, Senior Vice President, Refining, Processing and Marketing at Saudi Aramco. Effective in meeting customer needs. "
He explained that the main business of Saudi Aramco Retail will take a phased approach to expand its network of fuel stations throughout the Kingdom.
"The new company will seek to build a customer-centric culture, meet its needs in the first place, connect it to premium services and fuels, and achieve goals that exceed customer expectations, ensuring its long-term sustainability."
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