ADNOC Distribution
Coverage of ADNOC Distribution in the Nexus archive.
- Abu Dhabi Buys Shell’s South African Network for $1 Billion
Abu Dhabi's ADNOC Distribution agreed to purchase Shell's 580-station South African network for approximately $1 billion, marking its largest overseas deal. The acquisition is set to close in 2027.
- ADNOC wants more gas stations, eyes Africa and Southeast Asia
ADNOC Distribution, the retail arm of ADNOC, is expanding gas stations in Africa, Southeast Asia, and parts of the Middle East and North Africa. The company prioritizes value-accretive acquisitions, citing a $1 billion South African deal and a potential Shell station takeover. CEO Bader Al Lamki emphasized financial performance, with EBITDA rising from $670 million to $1.16 billion since 2019.
- ADNOC spends $1B on gas stations in South Africa
ADNOC Distribution, the retail arm of Abu Dhabi's state oil company, acquired Shell's downstream business in South Africa for $1 billion, securing 580 gas stations and a 10% market share. The deal is part of ADNOC's broader strategy, which includes investments in a Texan LNG project, Argentinian gas blocks, and a $16.9 billion takeover of Covestro, as well as launching a global LNG trading platform targeting 47 million tonnes annually by 2035.