Aldrees eyes 1,000 stations in next 5 years, holds 5.3% market share: exec

 Aldrees fuel station

Aldrees Petroleum and Transport Services Co. targets 1,000 stations in line with its strategy for the next five years, through increasing new acquisitions to 100 fuel stations, Vice Chairman Abdulmohsen Aldrees, told Argaam in an exclusive interview. 

The company will operate 640 stations by the end of this year, compared to current 584 stations, Aldrees said.  

Aldrees holds a significant market share of 5.3% in the Saudi fuel stations market, said Aldrees, adding that recent statistics showed that fuel stations reached 11,000, of which 90% are owned by individuals, while the remaining 10% are owned by companies. 

The top executive ruled out any plans to expand outside the Kingdom, saying that his company is currently focusing on the local market.

The company posted a 69% jump in net profit to SAR 75.3 million for H1 2021, while Q2 profit amounted to SAR 36 million, according to Argaam’s data.