Page 12 - DMEA Week 07 2023

DMEA FUELS DMEA

ADNOC Distribution

picks up stake in

Egyptian marketer

EGYPT ADNOC Distribution has completed the acqui- to the market.
sition of a 50% stake in TotalEnergies Marketing ADNOC Distribution’s expansion into Egypt
Egypt from TotalEnergies Marketing Afrique, is the latest achievement along its international
marking the official entry of the UAE’s largest growth journey. The company opened its first
fuel and retail distributor into the fast growing service station outside the UAE in 2018 by
Egyptian market. expanding into Saudi Arabia, where it currently
TotalEnergies Marketing Egypt is among operates 66 sites, Additionally, ADNOC Voyager
the leading fuel retail operators in Egypt. With continues to grow the company’s international
a strong brand and a successful track record, it footprint, with 25 countries where its lubricant
has a diversified downstream portfolio of 240 products are marketed.
fuel retail stations, 100+ convenience stores, ADNOC Distribution was the first of the
250+ lube changing stations and car washes, as parent firm’s subsidiaries to be listed on the Abu
well as wholesale fuel, aviation fuel, and lubricant Dhabi Securities Exchange, raising $851mn in
operations. 2017. Since then, it has raised around $15bn
In addition to introducing the digitally-ena- through deals to lease out then lease back oil
bled ADNOC service station offering to custom- and gas pipeline infrastructure, $1.1bn from list
ers in Egypt, ADNOC Distribution also plans to ADNOC Drilling as well as the recent plans to
bring its signature Oasis convenience store chain list ADNOC Gas.™

P12 www. NEWSBASE .com Week 07 16•February•2023