Adnoc Distribution to manufacture motor oil in Egypt: Adnoc Distribution, the distribution arm of UAE’s state oil company Abu Dhabi National Oil Company, is set to begin manufacturing motor oil in Egypt before the end of 2024, the company’s CEO Bader Al Lamki told Asharq Business.

The fuel retailer has big plans for Egypt: Further expansion and acquisitions in Egypt are also in the cards, with Al Lamki telling the outlet that the company is planning to add 15-20 gas stations in Egypt, Saudi Arabia, and the UAE over the next six months. Adnoc Distribution has earmarked USD 200-300 mn every year for the next five years to fuel the expansion of its operations.

But it looks like these plans won’t include Wataniya: Adnoc had been rumored to have lodged a bid for the military-owned filling station operator Wataniya, but unconfirmed media reports in February claimed that the Emirati oil giant had withdrawn its bid.

EV charging services are also in the works: The company is also looking into obtaining a license to set up EV charging stations in Egypt, Al Lamki added. The head of the company also told us in February that Adnoc was looking into starting aircraft refueling in Egypt and had been discussing the idea with the Oil Ministry.

Remember: Adnoc Distribution has only been in the Egyptian market for over a year now, following its USD 186 mn acquisition of a 50% stake in TotalEnergies’ Egyptian fuel distribution arm in early 2023.

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