Saudi service station provider Aldrees Petroleum plans Egypt expansion
Saudi’s Aldrees Petroleum looks to grow in Egypt. Saudi Arabia’s Aldrees Petroleum and Transport Services is planning to expand into Egypt by opening 60 fuel stations in the country during 2H2021, according to Arab News. Aldrees has reportedly submitted a request to acquire existing service stations in Egypt, but is awaiting a response. The Saudi […]
Saudi’s Petromin Corp enters the bidding race for Wataniya Petroleum
The bidding war for the army’s Wataniya Petroleum is heating up: Saudi industrial oils giant Petromin is throwing its hat in the ring in what’s shaping up into a bidding war for Wataniya Petroleum, Bloomberg reports, quoting sources familiar with the matter. The company will compete with each of Qalaa Holdings’ Taqa Arabia, Dubai’s state-owned […]
Abu Dhabi’s Sovereign Wealth Fund joins Adnoc in Wataniya bid
Abu Dhabi’s sovereign wealth fund ADQ is joining forces with Abu Dhabi National Oil Company (Adnoc) in its takeover bid for military owned Wataniya Petroleum, with the aim of making a stronger offer for the company, the local press reports, citing unnamed sources. Adnoc was reportedly in the process of appointing advisors last month, and […]
Franchisers added to list of potential buyers for Wataniya Petroleum
Franchisers are now on the list of potential buyers for 80-90% of military-owned Wataniya Petroleum, Sovereign Fund of Egypt (SFE) CEO Ayman Soliman told Reuters. The inclusion of franchising as a potential model for the sale came after the fund saw that some markets, including Europe, follow that model. The SFE, which is managing the […]
Wataniya Petroleum upcoming sale attracts more attention from GCC companies
The upcoming sale of military-owned Wataniya Petroleum is attracting more attention from GCC oil and gas companies, the local press reports, citing unnamed sources familiar with the negotiations. State-owned Emirates National Oil Company (ENOC) and Saudi Aldrees Petroleum and Transport Services Co. are reportedly interested in vying with Abu Dhabi National Oil Company (ADNOC) and […]
Adnoc, Taqa Arabia in the running for a stake in Wataniya Petroleum
Adnoc, Taqa Arabia in the running for Wataniya: A number of investors at home and abroad have expressed interest in acquiring a majority stake in the military-owned oil distribution company Wataniya Petroleum, Bloomberg reported on Thursday. Buyer #1: State-owned Abu Dhabi National Oil Company (Adnoc), which produces most of the UAE’s oil, is interested in […]
Egypt’s Sovereign Fund offers Wataniya Petroleum for private investment
Safi, Wataniya Petroleum are up first in Egypt’s plan to partially privatize military-owned companies: The Sovereign Fund of Egypt (SFE) decided that Wataniya Petroleum and the National Company for Producing and Bottling Water (Safi) as the first two subsidiaries of the National Service Products Organization (NSPO) the fund will move to privatize, Planning Minister and […]
