ADNOC Distribution, the fuel and retail arm of Abu Dhabi National Oil Company (ADNOC), plans to open its first service station in Saudi Arabia this year.
The service station will be operated under a franchise agreement, the Abu Dhabi-listed company said on Wednesday.
ADNOC Distribution’s expansion drive will also see opening of 12 new stations across the United Arab Emirates, in addition to major extensions at three existing stations in Abu Dhabi it added.
The company said it will cut capital expenditure on the new stations with expenditure of some future stations reduced by as much as 40 percent.
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