Adnoc Distribution, the UAE’s largest fuel and convenience retailer, has struck three new deals with its parent Adnoc as part of its growth strategy which focuses on product diversification.
The company entered into an agreement with Adnoc for the sale of base oil, which it will purchase until the end of 2026, Adnoc Distribution said in a statement to the Abu Dhabi Securities Exchange, where its shares are traded.
The new deal replaces one that was scheduled to expire at the end of this year. It will provide the company with higher volumes, it said.
Adnoc Distribution also struck a white spirit supply agreement with Adnoc to help the company increase its market share in the long term.
“This is part of Adnoc Distribution’s smart growth strategy in the commercial business, which includes horizontal diversification,” it said. The contract will expire at the end of 2026.
The company also entered into a new carbon black supply agreement with Adnoc, which will run until the end of this year.
“The contract enables Adnoc Distribution to test the market in carbon black,” it said.
White spirit is a petroleum-derived liquid used as a solvent in painting, while carbon black is used in tyres and rubbers.
Adnoc Distribution, which operates 464 retail fuel stations and 350 convenience stores in the UAE as of March 31, has been expanding its portfolio.
It reported a more than 6 per cent increase in its first-quarter profit to Dh671 million ($182.8m) as a result of higher revenue.
Revenue for the reporting period surged more than 57 per cent to Dh6.74 billion, driven by higher fuel selling prices amid a rise in crude prices globally. Growth in both fuel volumes and non-fuel business boosted revenue.
The company also operates 55 retail fuel stations in Saudi Arabia.
In March, the company's shares were included in the FTSE ADX 15 Index that represents the top 15 companies on the ADX main market.
Last year, Adnoc Distribution also joined the MSCI Emerging Markets index, which is tracked by funds with assets worth billions of dollars.
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Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
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US Team
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The Saudi Cup race card
1 The Jockey Club Local Handicap (TB) 1,800m (Dirt) $500,000
2 The Riyadh Dirt Sprint (TB) 1,200m (D) $1.500,000
3 The 1351 Turf Sprint 1,351m (Turf) $1,000,000
4 The Saudi Derby (TB) 1600m (D) $800,000
5 The Neom Turf Cup (TB) 2,100m (T) $1,000,000
6 The Obaiya Arabian Classic (PB) 2,000m (D) $1,900,000
7 The Red Sea Turf Handicap (TB) 3,000m (T) $2,500,000
8 The Saudi Cup (TB) 1,800m (D) $20,000,000
Seven tips from Emirates NBD
1. Never respond to e-mails, calls or messages asking for account, card or internet banking details
2. Never store a card PIN (personal identification number) in your mobile or in your wallet
3. Ensure online shopping websites are secure and verified before providing card details
4. Change passwords periodically as a precautionary measure
5. Never share authentication data such as passwords, card PINs and OTPs (one-time passwords) with third parties
6. Track bank notifications regarding transaction discrepancies
7. Report lost or stolen debit and credit cards immediately
UAE currency: the story behind the money in your pockets
Scoreline
Bournemouth 2
Wilson 70', Ibe 74'
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Bellerin 52'
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Australia World Cup squad
Aaron Finch (capt), Usman Khawaja, David Warner, Steve Smith, Shaun Marsh, Glenn Maxwell, Marcus Stoinis, Alex Carey, Pat Cummins, Mitchell Starc, Jhye Richardson, Nathan Coulter-Nile, Jason Behrendorff, Nathan Lyon, Adam Zampa
EA Sports FC 26
Publisher: EA Sports
Consoles: PC, PlayStation 4/5, Xbox Series X/S
Rating: 3/5
EPL's youngest
- Ethan Nwaneri (Arsenal)
15 years, 181 days old
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16 years, 68 days old
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World Cup warm up matches
May 24 Pakistan v Afghanistan, Bristol; Sri Lanka v South Africa, Cardiff
May 25 England v Australia, Southampton; India v New Zealand, The Oval
May 26 South Africa v West Indies, Bristol; Pakistan v Bangladesh, Cardiff
May 27 Australia v Sri Lanka, Southampton; England v Afghanistan, The Oval
May 28 West Indies v New Zealand, Bristol; Bangladesh v India, Cardiff
How to turn your property into a holiday home
- Ensure decoration and styling – and portal photography – quality is high to achieve maximum rates.
- Research equivalent Airbnb homes in your location to ensure competitiveness.
- Post on all relevant platforms to reach the widest audience; whether you let personally or via an agency know your potential guest profile – aiming for the wrong demographic may leave your property empty.
- Factor in costs when working out if holiday letting is beneficial. The annual DCTM fee runs from Dh370 for a one-bedroom flat to Dh1,200. Tourism tax is Dh10-15 per bedroom, per night.
- Check your management company has a physical office, a valid DTCM licence and is licencing your property and paying tourism taxes. For transparency, regularly view your booking calendar.
Jetour T1 specs
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Indoor cricket World Cup:
Insportz, Dubai, September 16-23
UAE fixtures:
Men
Saturday, September 16 – 1.45pm, v New Zealand
Sunday, September 17 – 10.30am, v Australia; 3.45pm, v South Africa
Monday, September 18 – 2pm, v England; 7.15pm, v India
Tuesday, September 19 – 12.15pm, v Singapore; 5.30pm, v Sri Lanka
Thursday, September 21 – 2pm v Malaysia
Friday, September 22 – 3.30pm, semi-final
Saturday, September 23 – 3pm, grand final
Women
Saturday, September 16 – 5.15pm, v Australia
Sunday, September 17 – 2pm, v South Africa; 7.15pm, v New Zealand
Monday, September 18 – 5.30pm, v England
Tuesday, September 19 – 10.30am, v New Zealand; 3.45pm, v South Africa
Thursday, September 21 – 12.15pm, v Australia
Friday, September 22 – 1.30pm, semi-final
Saturday, September 23 – 1pm, grand final
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
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Price: From Dh117,059
if you go
The flights
Etihad, Emirates and Singapore Airlines fly direct from the UAE to Singapore from Dh2,265 return including taxes. The flight takes about 7 hours.
The hotel
Rooms at the M Social Singapore cost from SG $179 (Dh488) per night including taxes.
The tour
Makan Makan Walking group tours costs from SG $90 (Dh245) per person for about three hours. Tailor-made tours can be arranged. For details go to www.woknstroll.com.sg
