Latest news with #AlLamki
Observer
04-06-2025
- Business
- Observer
Oman advances diverse energy portfolio: EDO
MUSCAT, JUNE 4 Oman is set to undergo a major transformation in its energy sector over the next decade, with plans for broad-based expansion across both hydrocarbons and renewable energy sources, according to a key executive of the Sultanate of Oman's pivotal energy industry. Mazin Rashid al Lamki, CEO of Energy Development Oman (EDO)—the wholly government-owned energy sector holding company—said the evolving strategy reflects global energy shifts while maintaining a strong commitment to domestic needs and export potential. In an interview featured in the latest Oman-focused edition of Oxford Business Group (OBG), Al Lamki noted that nationwide assessments of the country's energy resources, currently nearing completion, indicate a 'stronger-than-expected' potential in oil and gas. Together with assessments of Oman's solar and wind capacity, a picture is emerging of a balanced energy mix catering to both domestic demand and exports. 'Overall, we are moving toward a more diversified and integrated energy portfolio. Once it reaches commercial scale, you will see Oman expanding oil, gas, renewables, and green hydrogen. It is not a transition away from hydrocarbons, but a strategic broadening to meet domestic needs and seize export opportunities in an evolving global energy landscape,' Al Lamki stated. In line with this strategic direction, renewable resources are targeted to account for 30% of electricity production by 2030—a figure that could rise to 40–45%, according to current indicators. Hydrocarbon production is also expected to grow in response to sustained global demand, he noted. Al Lamki also emphasized the need for greater investment in the country's energy infrastructure to meet the ambitious renewable energy targets by 2030. 'Oman must expand its electricity infrastructure to meet the 2030 renewable energy target. Today's grid is designed for 11 GW of capacity, but by 2030 we expect that figure to rise to 35–40 GW. This requires investment in transmission and distribution infrastructure,' he said. One key area of focus, he added, is the development of common-use infrastructure to support both green hydrogen and renewable energy projects—a move that would help lower costs and maximize efficiency. 'Public-private partnerships (PPPs) will be key to this process. We are looking at PPP models to support grid expansion, particularly in the northern regions. Existing oil and gas transport infrastructure may be adapted to move hydrogen and desalinated water. Coordinated planning across electricity, water, and hydrogen infrastructure will be essential—and shared investment models will make that feasible,' he explained. When asked about potential sources of foreign direct investment (FDI) to support Oman's energy infrastructure, Al Lamki cited countries in Asia and Europe as particularly promising. 'These countries are seeking reliable, long-term supplies of both clean and conventional energy, and Oman stands out as an appealing partner due to its geopolitical stability, rich resource base, and clear commitment to energy diversification,' he said. Affiliated with the Ministry of Finance, EDO owns 60% of the Block 6 concession operated by Petroleum Development Oman (PDO), 100% of Block 6's non-associated gas concession, and 100% of Hydrogen Oman (Hydrom), the master planner of the Sultanate's green hydrogen industry.
The National
06-05-2025
- Business
- The National
Adnoc Distribution's network growth and Saudi expansion fuel 16% first-quarter profit jump
Adnoc Distribution, the UAE's largest fuel and convenience retailer, posted a more than 16 per cent annual rise in its first-quarter profit, boosted by its growth in Saudi Arabia. Net profit attributable to equity holders in the three months ended March 31 hit Dh638.7 million ($174 million), driven by "strong underlying business profitability and lower finance costs", the company said on Tuesday in a regulatory filing to the Abu Dhabi Securities Exchange, where its shares trade. Revenue for the quarter edged down 3.2 per cent annually to Dh8.47 billion, partially offset by reduced fuel prices as a result of lower global oil prices in the quarter on an annual basis, but lifted by a growth in fuel volumes and higher non-fuel retail segment contribution, the company said. Earnings before interest, taxes, depreciation and amortisation – a measure of profitability – rose 11 per cent compared with last year to reach Dh1.01 billion, a record for the first quarter and the highest since Adnoc Distribution's initial public offering in 2017. Adnoc Distribution said it achieved its "highest-ever first-quarter" fuel volume of 3.7 billion litres, "driven by market share growth, increasing demand and network expansion in the UAE, Saudi Arabia and Egypt". The company opened 20 new service stations in the first quarter, bringing its network to 915 and keeping it on track to meet the target of between 40 and 50 new stations by the end of 2025, it said. In Saudi Arabia, the world's biggest oil-exporting country, Adnoc Distribution added 15 stations, growing its network to 115. Non-fuel retail transactions also increased with gross profit rising 14 per cent annually in the period from January to March to reach Dh228 million. "As we continue to expand our network and capabilities, adding new service stations and enhancing our customer experiences, we remain focused on capturing new opportunities and setting new benchmarks," said Bader Al Lamki, chief executive of Adnoc Distribution. The company has been incorporating more technology into operations as part of efforts to improve its offering. Mr Al Lamki told The National at last year's Gitex Global technology summit that the company was developing more than 20 tools powered by artificial intelligence to further optimise operations and enhance operational efficiencies. Adnoc Distribution has also demonstrated its concept robotic arm for electric vehicle charging. But there are no plans to use the technology in the near future and the concept is aimed at future-proofing the company, Mr Al Lamki said at the time.
Trade Arabia
30-04-2025
- Automotive
- Trade Arabia
Adnoc Distribution earns $1bn, plans 1,000 stations by 2028
Adnoc Distribution has announced that its earnings before interest, taxes, depreciation and amortisation (EBITDA) surpassed $1 billion for the second consecutive year, reflecting the strength of its operational foundations and its steady path to delivering strong shareholder returns. The company aims to generate a return on investment exceeding 6 per cent, reported WAM. Bader Saeed Al Lamki, Chief Executive Officer of Adnoc Distribution, said in a statement to the Emirates News Agency (WAM) that the company maintains a robust financial position, enabling it to explore new investment opportunities outside its three current markets in a way that creates added value for shareholders and maximises returns. Al Lamki noted that the company has maintained steady growth since its listing on the Abu Dhabi Securities Exchange in 2019, expanding its operations from the domestic market to promising regional markets including the Kingdom of Saudi Arabia and the Arab Republic of Egypt. He stated that Adnoc Distribution currently operates 900 service stations and plans to increase this number to 1,000 by 2028. He emphasised the company's commitment to enhancing non-fuel services such as Adnoc Oasis convenience stores, car wash stations and vehicle inspection centres. Recently, the company opened new inspection centres in shopping malls, in line with the UAE's Year of the Community initiative, to provide greater convenience for customers. As part of its efforts to promote sustainable mobility, Al Lamki highlighted that the company currently operates approximately 200 electric vehicle charging points across the UAE and aims to increase this number to 500 high-power chargers by 2028. Adnoc Distribution's chargers are among the fastest available, capable of charging a battery from 20 to 80 percent in a short time. The CEO affirmed that the company continues to enhance customer experience by leveraging artificial intelligence and its smart Adnoc app, which offers home delivery services in partnership with strategic partners including the UAE-based platform Noon.
Arabian Business
29-04-2025
- Automotive
- Arabian Business
Adnoc Distribution targets 1,000 service stations as earnings pass $1bn
Adnoc Distribution announced that its earnings before interest, taxes, depreciation and amortisation (EBITDA) surpassed S$1bn for the second consecutive year. The company aims to generate a return on investment exceeding 6 per cent. Bader Saeed Al Lamki, Chief Executive Officer of Adnoc Distribution, said that the company maintains a robust financial position, enabling it to explore new investment opportunities outside its three current markets in a way that creates added value for shareholders and maximises returns. Adnoc Distribution Al Lamki noted that the company has maintained steady growth since its listing on the Abu Dhabi Securities Exchange in 2019, expanding its operations from the domestic market to promising regional markets including Saudi Arabia and Egypt. He stated that Adnoc Distribution currently operates 900 service stations and plans to increase this number to 1,000 by 2028. He emphasised the company's commitment to enhancing non-fuel services such as Adnoc Oasis convenience stores, car wash stations and vehicle inspection centres. Recently, the company opened new inspection centres in shopping malls, in line with the UAE's Year of the Community initiative, to provide greater convenience for customers. As part of its efforts to promote sustainable mobility, Al Lamki highlighted that the company currently operates approximately 200 electric vehicle charging points across the UAE and aims to increase this number to 500 high-power chargers by 2028. Adnoc Distribution's chargers are among the fastest available, capable of charging a battery from 20 to 80 per cent in a short time. The CEO affirmed that the company continues to enhance customer experience by leveraging artificial intelligence and its smart Adnoc app, which offers home delivery services in partnership with strategic partners including the UAE-based platform Noon. Al Lamki said the company currently operates in three major markets characterised by high population density, developed infrastructure and growing energy demand, with further growth opportunities ahead. He noted that Adnoc Distribution operates 100 service stations in Saudi Arabia and 244 stations in Egypt, where the company has also commenced lubricants manufacturing as part of its ongoing expansion in the Egyptian market.
Al Etihad
29-04-2025
- Automotive
- Al Etihad
Adnoc Distribution earnings top $1 billion for second year, plans expansion to 1,000 stations by 2028
29 Apr 2025 15:39 ABU DHABI (WAM)Adnoc Distribution announced that its earnings before interest, taxes, depreciation and amortisation (EBITDA) surpassed $1 billion for the second consecutive year, reflecting the strength of its operational foundations and its steady path to delivering strong shareholder returns. The company aims to generate a return on investment exceeding 6 Saeed Al Lamki, Chief Executive Officer of Adnoc Distribution, said in a statement to the Emirates News Agency (WAM) that the company maintains a robust financial position, enabling it to explore new investment opportunities outside its three current markets in a way that creates added value for shareholders and maximises Lamki noted that the company has maintained steady growth since its listing on the Abu Dhabi Securities Exchange in 2019, expanding its operations from the domestic market to promising regional markets, including the Kingdom of Saudi Arabia and the Arab Republic of stated that Adnoc Distribution currently operates 900 service stations, and plans to increase this number to 1,000 by 2028. He emphasised the company's commitment to enhancing non-fuel services, such as Adnoc Oasis convenience stores, car wash stations, and vehicle inspection the company opened new inspection centres in shopping malls, in line with the UAE's Year of the Community initiative, to provide greater convenience for part of its efforts to promote sustainable mobility, Al Lamki highlighted that the company currently operates approximately 200 electric vehicle charging points across the UAE, and aims to increase this number to 500 high-power chargers by 2028. Adnoc Distribution's chargers are among the fastest available, capable of charging a battery from 20 to 80 percent in a short CEO affirmed that the company continues to enhance customer experience by leveraging artificial intelligence and its smart Adnoc app, which offers home delivery services in partnership with strategic partners including the UAE-based platform Noon. Al Lamki said the company currently operates in three major markets characterised by high population density, developed infrastructure and growing energy demand, with further growth opportunities ahead. He noted that Adnoc Distribution operates 100 service stations in Saudi Arabia and 244 stations in Egypt, where the company has also commenced lubricants manufacturing as part of its ongoing expansion in the Egyptian market.
