Aramco and TotalEnergies have launched the first two service stations of their joint retail network in Riyadh and Saihat, a press release issued by Aramco announced.
This development was within the framework of a joint venture (JV) agreement signed between the two companies in 2019 to upgrade 270 stations and provide a wider range of quality retail services in Saudi Arabia’s market.
According to the agreement, this network will include stations under the Aramco or TotalEnergies brand, which will provide motorists with premium fuels and retail services.
Commenting on this occasion, Aramco President and CEO Amin H. Nasser said, “The opening of the first service stations marks an important milestone as we continue to expand our presence in the Kingdom’s downstream value chain. With our longstanding partner TotalEnergies, we are creating a premium network that will enhance the experience of Saudi Arabia’s motorists and travelers. As the Kingdom scales up tourism projects, we can expect domestic travel to increase, along with demand for hospitality and travel services.”
For his part, TotalEnergies Chairman and CEO Patrick Pouyanné, who was present at the inauguration ceremony in Riyadh expressed his company’s commitment in working in the kingdom’s market. “We aim to provide our new Saudi customers with clean, reliable and accessible energy,” Pouyanné said. “The opening of these two first stations is another step forward in reaffirming our long-standing partnership with Aramco, following our joint investments in SATORP since 2008.”