Saudi Aramco announced on December 27 the establishment of the Saudi Aramco Retail Company (RetailCo), a wholly owned subsidiary, to satisfy the consumers’ needs of fuel.
“We are very excited with the establishment of RetailCo. It will leverage synergies in our business model and position us to actively participate in the customer-facing segment of the downstream value chain,” Abdulaziz Al-Judaimi, Saudi Aramco Senior Vice President of Downstream, said.
RetailCo aims to expand the fuel retail stations over the kingdom, deliver Saudi Aramco brand position, innovate experience for fuel and non-fuel associated activities, and create a profitable business that can adapt to the market’s dynamics.
“By instituting a customer focus culture, combined with premium fuels and services, RetailCo will strive to exceed its customer’s expectations, thereby ensuring its business is sustainable for the long-term,” Al-Judaimi added.