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.