Neft Alsharq launches ‘Petro Neft’ oil change service center

Neft Alsharq Co. for Chemical Industries rolled out its vehicle oil change service center under the trade name “Petro Neft.” The move is part of the company’s strategy to expand direct-to-consumer services and enhance vertical integration within its lubricants business.

 

In a statement to Tadawul, the company stated that seven operational branches were opened across various cities within the Kingdom. In addition, the firm plans a gradual expansion according to a well-defined strategy aimed at increasing market share and creating added value for its affiliated brands.

 

 

The project is expected to have a significant investment impact during the current period, resulting in higher operating and capital costs as well as a reduced profit margin in the short term.

 

However, the company believes this expansion will contribute to diversifying income sources and enhancing long-term profitability.

 

The self-funded project does not include any related parties, and the company will announce any material development in due course, the statement added.