Adnoc Retail eyes 1,000 stations by 2028 after earnings top $1b for second year

Abu Dhabi: Adnoc's retail and distribution unit has posted over $1 billion in EBITDA for the second consecutive year, underlining its strong financial footing and growing regional footprint. The company now plans to expand its service station network to 1,000 sites by 2028, up from 900 currently.

The energy retailer’s Chief Executive Officer Bader Saeed Al Lamki said the firm remains on track to deliver shareholder returns exceeding 6%, supported by steady growth and expansion across its three key markets — the UAE, Saudi Arabia, and Egypt.

Since going public on the Abu Dhabi Securities Exchange in 2019, Adnoc Distribution has scaled its operations in line with rising regional energy demand. It currently runs 100 stations in Saudi Arabia and 244 in Egypt, where it has also begun local production of lubricants.

Beyond fuel sales, the company is accelerating growth in non-fuel services such as its Adnoc Oasis convenience stores, car wash stations, and vehicle inspection centres. New inspection hubs have opened in malls, aligning with the UAE’s Year of the Community initiative to improve customer accessibility.

Sustainability is also in focus. Al Lamki said Adnoc Distribution operates about 200 electric vehicle charging points across the UAE and aims to increase that number to 500 high-power chargers by 2028. The chargers can replenish a battery from 20% to 80% in a short span, placing them among the fastest in the region.

The company is also investing in digital infrastructure, leveraging AI and its mobile app to enhance customer engagement, including offering home delivery services in partnership with UAE-based platform Noon.

Al Lamki said the company sees further upside in its core markets, characterised by high population density, robust infrastructure, and growing demand for energy and mobility solutions.