UAE energy giant ADNOC to inaugurate new state-of-the-art service station in New Cairo in 2025 - Energy
ADNOC made the announcement on Tuesday during Egypt's largest Energy Show, EGYPES 2025, held from 17 to 19 February at Al-Manara International Conference Centre in New Cairo.
Key players in the energy sector worldwide are participating in this event.
Founded in 1971, ADNOC is a leading diversified energy group owned by the Abu Dhabi Government.
The announcement coincided with ADNOC Distribution and TotalEnergies' celebration of the second anniversary of their successful joint venture in TotalEnergies Marketing Egypt (TEME).
The new station will complement the 11 existing ADNOC-branded stations in the country, reflecting the company's commitment to providing industry-leading customer experiences.
Additionally, ADNOC's Voyager lubricants, blended locally by TEME, will soon be available through independent distributors, expanding their reach beyond ADNOC Distribution stations.
ADNOC stressed that this move highlights Egypt's growing potential as an export-focused manufacturing hub.
Meanwhile, TEME aims to enhance its future presence in Egypt's aviation fuel market, capitalizing on its strategic role as a transport and tourism hub in North Africa and beyond.
Both companies reaffirmed their commitment to supporting Egypt's energy needs, fostering economic growth, and delivering world-class services.
Through continued expansion of its retail network and investments in local manufacturing, TEME is positioned to play a vital role in Egypt's energy landscape, promoting sustainability and economic development in the future.
A journey of success!
In 2023, ADNOC Distribution acquired a 50 percent stake in TEME, which operates over 240 fuel retail sites nationwide and has wholesale, aviation fuel, and lubricant blending operations. This acquisition enabled ADNOC to introduce its retail fuel and Oasis convenience store brands to the Egyptian market.
'The ongoing success of our TEME joint venture demonstrates the value of our international expansion strategy in driving growth. Egypt's significant economic potential is a key part of our journey, and we are proud to deliver innovative solutions and exceptional customer experiences aligned with our vision for regional leadership,' said Bader Saeed Al Lamki, CEO of ADNOC Distribution.
'This partnership underscores our mutual dedication to strengthening Egypt's energy solutions. We recognize the immense potential of the Egyptian market and are committed to fostering sustainable growth,' according to Thomas Strauss, managing director and country chair of TEME.
Short link:
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily News Egypt
7 hours ago
- Daily News Egypt
Industry minister, automakers discuss localizing car sheet metal production
Egypt's Minister of Industry and Transport Kamel Al-Wazir has held an extensive meeting with leading steel producers and representatives from automotive and bus manufacturing and assembly companies, as part of the state's strategy to promote local manufacturing and deepen production chains. The Monday discussions focused on exploring practical mechanisms to localize automotive sheet metal production in Egypt. Al-Wazir underlined the government's firm commitment to supporting the iron and steel sector, given its critical role in sustaining key industries—particularly the automotive industry. He stressed that localizing automotive sheet metal production is currently a top priority, as it would significantly reduce import costs, increase the proportion of local content, and enhance the competitiveness of Egyptian products in domestic and global markets. The Minister explained that the ministry is developing an integrated strategy based on two main pillars. The first pillar aims to ensure a sustainable legislative and incentive framework, alongside clear implementation plans to support long-term industrial investment. The second focuses on identifying vehicle components that can realistically be manufactured locally, supported by skilled human resources and defined timelines. Al-Wazir noted that the ministry will continue close coordination with all relevant parties—including private sector stakeholders and government institutions—to ensure the efficient and timely execution of this national initiative. He emphasised that localizing automotive sheet metal production is not only a critical step in reducing imports but also serves as a launchpad for broader efforts to expand local manufacturing of vehicle components. This will pave the way for new industrial partnerships aligned with Egypt's economic development goals. The Minister highlighted that the domestic market has solid demand that could underpin the establishment of various feeder industries. He pointed out that Egypt already produces some automotive components that are exported to international markets, reflecting the competitiveness and quality of local manufacturing. Al-Wazir also identified promising opportunities to localize additional key components—including tires, glass, and sheet metal—and affirmed that the ministry is working to capture these opportunities by fostering effective public-private partnerships and creating a supportive environment for sustainable industrial investment. During the meeting, participants reviewed the perspectives of major steel producers on the feasibility of supplying sheet metal tailored to the design and structural needs of different vehicle types. Discussions also addressed production methods for exterior sheet metal, relevant design standards, and technical specifications. The meeting further examined the strategy and estimated production volumes needed to align with the state's broader plan to localize the automotive industry. Al-Wazir announced plans to hold a larger follow-up meeting with vehicle manufacturers and feeder industries to deepen technical discussions. The goal is to ensure that local sheet metal production matches the specifications required by automotive manufacturers. He called for closer coordination between steel producers, car assembly firms, and component manufacturers to integrate supply chains and advance the localization process in line with the national vision. The Minister concluded by stating that localizing automotive sheet metal production represents a qualitative step toward increasing local content and improving the effectiveness of the incentives offered to the automotive sector. This move is expected to boost the sector's regional and international competitiveness by reducing reliance on imports, improving supply chain stability, and enhancing investor confidence in Egypt's industrial landscape—all of which support manufacturers' capacity to meet production and export targets.
Daily News Egypt
8 hours ago
- Daily News Egypt
Egypt's Foreign Minister discusses Nile water security with Ugandan president
Egyptian Foreign Minister Badr Abdelatty met with Ugandan President Yoweri Museveni in Entebbe on Monday to discuss Egypt's 'existential' concerns over its water security and ways to boost bilateral ties, the Egyptian foreign ministry said. Egypt's Minister of Water Resources and Irrigation, Hani Sewilam, also attended the high-level meeting during the official visit to Uganda. In a statement, the ministry said Abdelatty conveyed Egypt's concerns regarding the Nile River and stressed the need to adhere to international law for shared water resources. He voiced Egypt's rejection of 'unilateral actions' in the eastern Nile Basin and affirmed that Cairo 'will take all necessary measures under international law to protect its water security.' 'The waters of the Nile are an existential issue for Egypt,' Abdelatty told the Ugandan president. The minister of water resources and irrigation reiterated that respect for international law on the Nile River is the basis for positive cooperation to achieve the common interest of all basin countries. During the meeting, Abdelatty, who conveyed greetings from Egyptian President Abdel Fattah al-Sisi, also called for the formation of a joint Egyptian-Ugandan business council to boost investment in sectors like construction, energy, and pharmaceuticals. He highlighted the potential for joint projects through a financing mechanism recently established by Egypt to support development in southern Nile Basin countries. The officials also discussed regional security developments, including the situation in the Horn of Africa and counter-terrorism efforts. For his part, President Museveni asked for his greetings to be passed to President Sisi and stressed his country's keenness to enhance bilateral cooperation, the statement said. Separately, Abdelatty and Sewilam also met with Ugandan Minister of State for Foreign Affairs, Henry Oryem Okello, in Kampala. In that meeting, they discussed similar issues of economic cooperation and regional security, and Abdelatty delivered a grant of agricultural equipment and light transport vehicles to a Ugandan non-governmental organisation that supports youth and small-scale farmers.
Mid East Info
8 hours ago
- Mid East Info
Fertiglobe Reports Resilient Q2 2025 Results, Reinforces Shareholder Commitment with At Least $131 million in Cash Returns for H1 2025
Fertiglobe reported Q2 revenues of $566 million (+14%, Y-o-Y), adjusted EBITDA of $176 million (+26%, Y-o-Y) and adjusted net profit attributable to shareholders of $12 million (+68% Y-o-Y). Fertiglobe demonstrated resilience in Q2 2025 despite external factors in Egypt. Fertiglobe's Q2 2025 own-produced sales volumes were 10% lower compared to the same period last year, while H1 2025 own-produced sales volumes were only 1% lower compared to last year. Excluding external factors and turnarounds, Q2 2025 own-produced sales volumes would have been up 4% Y-o-Y, while H1 2025 own-produced sales volumes would have increased 7% Y-o-Y. 2025 maintenance capex expected towards lower end of previous guidance ($145–170 million), reflecting the deferral of turnarounds following the completion of critical maintenance works during the downtime in Egypt. H1 2025 revenues were $1.26 billion (+20% Y-o-Y), adjusted EBITDA was $437 million (+36%, Y-o-Y) and adjusted profits attributable to shareholders were $85 million (-18% Y-o-Y or +3.5x Y-o-Y excl. one-off FX gains in H1 2024). In line with Fertiglobe's commitment to creating shareholder value, management proposes H1 2025 dividends of at least $100 million (4.4 fils per share), subject to Board approval in September and payment in October. Including $31 million in share buybacks in Q2 2025, total H1 2025 shareholder returns would amount to at least $131 million. Fertiglobe is set to realize $10 million annual run rate interest savings (6% EPS accretion), following the recent repricing of the $1.1 billion term loan in June 2025, reducing its interest margin to 90bps, the refinancing of its $300 million loan and credit rating upgrades. On track to deliver $15-21 million of cost savings by year-end, supported by ADNOC's commitment to optimize Fertiglobe's costs, showing early progress on the Grow 2030 Strategy. As part of its digital transformation, Fertiglobe deployed MEERAi, ADNOC's AI-powered board advisory tool, at its most recent Board meeting to support faster, data-driven decision-making through real-time insights. Market outlook: Urea prices are up 20% versus the Q2 2025 average to $488/t, supported by tight industry supply and emerging demand from key buying regions. Longer term, limited supply additions and growing demand across agricultural, industrial and emerging segments are expected to support prices. Fertiglobe is poised to capitalize on the recent recovery in urea prices, supported by a strong order book. Abu Dhabi, UAE – August, 2025: Fertiglobe (the 'Company') (ADX: FERTIGLB), the world's largest seaborne exporter of urea and ammonia combined, the largest nitrogen fertilizer producer in the Middle East and North Africa region and ADNOC's low carbon ammonia platform, today announced its financial results for the three-month and six-month periods ended 30 June 2025 ('Q2 2025' and 'H1 2025', respectively). In the second quarter of 2025, Fertiglobe reported revenue of $566 million, reflecting a 14% year-on-year increase, while adjusted EBITDA grew 26% to $176 million, with adjusted net profit attributable to shareholders stood at $12 million, representing a 68% increase compared to Q2 2024. In the first half of 2025, Fertiglobe reported revenue of $1.26 billion, reflecting a 20% increase year-on-year increase. Adjusted EBITDA for the period stood at $437 million, up 36% year-on-year, while adjusted net profit attributable to shareholders stood at $85 million, representing an 18% decline compared to the prior year, driven by a one-off FX gain in H1 2024. Ahmed El-Hoshy, CEO of Fertiglobe, commented: 'This quarter demonstrated Fertiglobe's growing operational resilience, with an adjusted EBITDA increase of 26% Y-o-Y. Fertiglobe remains strategically placed to deliver robust performance and maintain operational continuity amid challenging conditions and I am proud of how our team continued to execute with agility, discipline, while maintaining an unwavering focus on safety and long-term value creation. We capitalized on the downtime in Egypt to perform critical maintenance activities, successfully extending the turnaround cycle, with maintenance capex expected towards the lower end of our previous guidance at $145 million. Notably, excluding external factors and turnarounds, our own-produced sales volumes for the second quarter of 2025 would have been up 4% Y-o-Y, while H1 2025 own-produced sales volumes would have increased 7% Y-o-Y. Building on our strengthened platform and robust commercial capabilities, Fertiglobe is poised to capitalize on the recent recovery in urea prices, which are approximately 20% above Q2 2025 levels0F[1]. This pricing rebound is supported by robust import demand from key markets such as India and Ethiopia. In line with our commitment to deliver value to our shareholders, we propose H1 2025 dividends of at least $100 million (4.4 fils per share), subject to Board approval in September 2025 with payment in October 2025. Including the $31 million worth of shares bought back in Q2 2025, Fertiglobe provides one of the highest total return metrics in the industry at the combined $131 million cash returns to shareholders for H1 2025. With the continued support of ADNOC, we remain confident in our strategic path to become a globally integrated nitrogen champion and creating long-term value for shareholders, while continuing to innovate and differentiate our solutions that support global food security and enable the energy transition. We remain committed to our recently announced Grow 2030 Strategy to become a $1bn+ EBITDA global nitrogen champion by 2030. This strategy is anchored on four key pillars: operational excellence, customer proximity, nitrogen production expansion, and disciplined low-carbon growth. This includes Project Harvest – a 1 mtpa lower carbon ammonia facility currently under construction – which remains a core part of our decarbonization roadmap. In parallel, we continue to evaluate the development of Project Baytown in collaboration with ADNOC and ExxonMobil, as part of our broader efforts to advance low-carbon ammonia solutions globally. While Fertiglobe remains dedicated to advancing its low-carbon project portfolio, the Company recognizes that the global low-carbon ammonia market remains in the early stages of development, with regulatory frameworks and demand signals continuing to evolve. As such, and in line with Fertiglobe's disciplined approach to capital deployment across its low-carbon ammonia project pipeline, Fertiglobe has taken the decision to rephase Project Rabdan1F[2], a 1 mtpa low-carbon ammonia project and associated auto-thermal reformer. This decision reflects the Company's prudent investment strategy and commitment to timing capital allocation effectively and is consistent with the broader objectives of the Grow 2030 Strategy, particularly its focus on disciplined low-carbon growth. In addition, Fertiglobe expects its recently announced proposed acquisition of the distribution assets of Wengfu Australia to play a key role in strengthening its downstream presence in high-netback markets, in line with its strategic focus on customer proximity. Wengfu Australia's distribution assets are also projected to enhance supply chain resilience and unlock long-term distribution synergies. The transaction is subject to regulatory approvals and is anticipated to close in H2 2025.' Dividends and capital structure: In line with Fertiglobe's commitment to creating and returning shareholder value, Fertiglobe's management proposes H1 2025 dividends of at least $100 million, subject to Board approval in September 2025 with payment in October 2025. Additionally, Fertiglobe continues to execute on its announced 2.5% Share Buyback Program, aimed at opportunistically capitalizing on the stock's attractive valuation. As of 1 August 2025, Fertiglobe repurchased 55 million shares, representing 0.66% of total outstanding shares. As of 30 June 2025, Fertiglobe reported a net debt position of $909 million, implying a consolidated net debt to LTM adjusted EBITDA ratio of 1.0x. This strong financial position enables the Company to effectively balance growth investments and shareholder distributions, supported by robust free cash flow generation and a solid balance sheet. Fertiglobe is also set to realize $10 million of annual run rate interest savings in 2025, following credit rating upgrades by S&P, Fitch, and Moody's and driven by ADNOC's acquisition of a majority stake in Fertiglobe. These savings are further underpinned by the refinancing of our $300 million loan through the internal ADNOC bank and the recent repricing of a $1.1 billion term loan, supporting lower financing costs and contributing to earnings accretion in the quarter. Investor and Analyst Conference Call On 4 August 2025 at 3:00 PM UAE (12:00 PM London, 7:00 AM New York), Fertiglobe will host a conference call for investors and analysts. To access the call please dial Investors can access the call and ask live questions by dialing one of the following numbers using the code: 464259 International: +44 808 189 0158 UAE: +971 800 03570 4553 UK: +44 808 189 0158 / +44 808 189 0158 (toll-free) United States: +1 646 233 4753 / +1 855 979 6654 (toll-free) Participants may also join via the webcast. Please pre-register and join here. About Fertiglobe: Fertiglobe is the world's largest seaborne exporter of urea and ammonia combined, and an early mover in sustainable ammonia. Fertiglobe's production capacity comprises of 6.6 million tons of urea and merchant ammonia, produced at four subsidiaries in the UAE, Egypt and Algeria, making it the largest producer of nitrogen fertilizers in the Middle East and North Africa (MENA), and benefits from direct access to six key ports and distribution hubs on the Mediterranean Sea, Red Sea, and the Arab Gulf. Headquartered in Abu Dhabi and incorporated in Abu Dhabi Global Market (ADGM), Fertiglobe employs more than 2,700 employees. Fertiglobe is listed on the Abu Dhabi Securities Exchange ('ADX') under the symbol 'FERTIGLB' and ISIN 'AEF000901015.
