Burhan Al Hashemi, Managing Director of ENOC Retail, the specialized retail business of ENOC, and Abdulelah Saad Aldrees, Chief Executive Officer of Aldrees, shake hands after signing the deal Tuesday in Dubai.

JEDDAH — Emirates National Oil Company (ENOC), Dubai’s petroleum retailer with a significant footprint in lifestyle and consumer retailing, has signed a joint venture agreement with Aldrees Petroleum & Transport Services Company (Aldrees), one of Saudi Arabia’s petroleum retailers and commodity hauling companies, to set up service stations in different locations across the Kingdom.



Burhan Al Hashemi, Managing Director of ENOC Retail, the specialized retail business of ENOC, and Abdulelah Saad Aldrees, Chief Executive Officer of Aldrees, signed the agreement Tuesday in Dubai.



Under the 50:50 joint venture, the service stations will feature all the specialized and popular brands operated by ENOC including ZOOM, Pronto, Super Lube and Super Wash. The first station under the partnership is expected to open early next year, followed by the progressive rollout of the rest in due course, the company said in a statement.



One of the largest petroleum retail and commodity hauling companies in Saudi Arabia with a network of more than 450 petrol filling stations, Aldrees has a fleet of 1,032 tractor heads with 1,376 cargo carriers ranging from chemical/lubricant tankers, trailers, bulkers, to flat beds. The company serves a majority of the transport market and supply fuel to key accounts in both private and government sectors.



Saeed Abdullah Khoory, ENOC’s Chief Executive Officer, said: "ENOC is focused on expanding its business presence regionally and internationally, and Saudi Arabia is a strategic market that offers perfect market synergies for our growth. Over the past years, we have established our competencies in retail operations through our service stations which offer convenient options not only to motorists, but also to general consumers as well."

"The addition of several lifestyle brands as well as specialized automobile-related retail services has further underlined our credentials in value-added offerings. We are honored to partner with Aldrees, a leader in petroleum retailing, to support the opening of service stations in the Kingdom and extend our capabilities in retail. This joint venture will also create new jobs for young Saudis and we will focus on strengthening their job competencies through our training programs, thus serving as an effective partner in the Kingdom’s Vision," he added.

Abdulelah Saad Aldrees of Aldrees said "with a network of more than 450 service stations in the Kingdom, Aldrees is an industry leader in petroleum retailing in Saudi Arabia. In line with our commitment to add value to our stakeholders, we are continuously exploring expansion opportunities that bring clear differentials to the market." — SG