Saudi Aramco creates fuel retail subsidiary to expand downstream
Saudi Aramco announced the creation of the Saudi Aramco Retail Company (RetailCo), a wholly-owned subsidiary established to cater for fuel retailing, creating a sustainable and profitable business that integrates across the hydrocarbon value chain.
The company is chartered with owning Saudi Aramco’s fuel retailing, delivering Saudi Aramco brand positioning, innovating retail experience for fuel and associated non-fuel activities and creating an agile business unit that can adapt to retail market’s changing dynamics.
“Integrating fully across the hydrocarbon value chain is key to capturing maximum value from our resources. We are very excited
RetailCo’s core business and operations will take a phased approach to expand its network of domestic fuel retail stations to cover the Kingdom.
Al-Judaimi added: “By instituting a customer focus culture, combined with premium fuels and services, RetailCo will strive to exceed its customer’s expectations, thereby ensuring its business is sustainable for the long-term. Kingdom consumers will experience the hallmarks of Saudi Aramco’s brand essence which promises quality, reliability
Today’s announcement marks the commencement of a series of initiatives and transactions in RetailCo’s journey to become a full-fledged downstream retail entity of Saudi Aramco.
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