ADNOC Wants More Gas Stations, Eyes Africa and Southeast Asia

ADNOC wants more gas stations, eyes Africa and Southeast Asia

The NewsADNOC’s retail arm is hunting for deals in Africa and Southeast Asia days after its $1 billion swoop on a South African gas station chain.“Africa is the destination of choice, but we’re not limited to it,” ADNOC Distribution’s CEO Bader Al Lamki told Semafor. “Southeast Asia is somewhere we’re also open to exploring.”The company is also evaluating expansion in parts of the Middle East and North Africa where it doesn’t yet operate fuel st…

Adnoc unit targets Africa and Southeast Asia after Shell deal

Buys South African fuel station network ‘Potential platform to go through Africa’ Sticking to Southeast Asia strategy Adnoc Distribution is considering further acquisitions in Africa and Southeast Asia following a deal to buy Shell’s South African fuel retail business, a senior executive told AGBI. The group, a subsidiary of the state-backed Abu Dhabi National Oil Company, announced a $1 billion agreement on Tuesday to buy Shell’s South African …