Saudi Aramco to set up gas stations

Updated 19 May 2014

Saudi Aramco to set up gas stations

Saudi Aramco has disclosed plans to enter the Kingdom’s retail market by setting up gas stations fully owned by the company.
“We had already begun implementing this project by the end of last year,” said the company’s annual report without giving an exact date for launching the service.
The move comes as part of the Saudi oil giant’s strategy to become an integrated energy company that enters into more business ventures, including petrochemicals and the sales of refined products.
A team set up for this purpose is reportedly weighing several strategic options to expand the company’s operations. Aramco has already received approval for establishing a fully owned company for retail services.
The new company is licensed to build, operate and maintain service stations in selected areas. The company will not only run gas stations but also supermarkets and other services. Aramco has indicated that it could hand services other than fuel supply to potential partners who could add value to the company and its trademark.
Two international companies — Shell and Mobil — left the Kingdom’s retail market after suffering losses, said Ahmed Al-Falih, deputy chairman of the National Committee for Gas Stations.
He said one of the two had paid SR80 million for nine stations. “Gas stations face problems in acquiring licensing and manpower,” he said.
Foreign investors in the sector are required to have 10 years’ experience in management, operation and maintenance. “About 90 percent of station owners are small investors,” Al-Falih said.


Preventive protocols issued as Saudi Arabia moves to relax curfew further

Updated 30 May 2020

Preventive protocols issued as Saudi Arabia moves to relax curfew further

RIYADH: As Saudi Arabia moved closer to Phase 2 of the gradual relaxation of coronavirus lockdown rules, the Ministry of Interior announced precautionary measures and preventive protocols for several sectors to follow.

The preventive protocols, prepared by the Ministry of Health,  covers the period from 8 Shawwal to 28 Shawwal 1441 in the Hijri calendar, corresponding to May 31 to June 20, 2020 in the Gregorian calendar.

A ministry official said the protocols are provided for mosques;  the public; petroleum, petrochemical and gas and other industries; malls and retail centers, home delivery service, among others.

The preventive protocols can be found at: https://covid19awareness.sa/archives/5460.

The MOI urged all citizens, expatriates and concerned authorities "to implement these procedures and abide by their provisions in order to preserve the safety of all".

Also on Saturday, the acting minister of economy and planning, Mohammad bin Abdullah Al-Jadaan, said the gradual lifting of the curfew "represents a new stage in the face of the global pandemic crisis and towards a gradual return to economic activities in the Kingdom to its normal levels."
 
"The decisions were taken after continuous coordination between the Ministry of Health and the concerned authorities, relying on a focused plan that seeks to balance between procedures for reopening economic activities and maintaining the stability of health and social conditions," said Jadaan, who is also the Kingdom's minister of finance.

Al-Jadaan highlighted that the government has increased – during the last period through the state’s general budget – spending on urgent and necessary requirements to face the crisis.

It has significantly strengthened the financial allocations for the Health and related services sector.

The government also launched urgent support initiatives to mitigate the impact on the private sector, supporting the economy and to preserve the jobs of citizens in economic establishments, he said in a statement carried by the SPA.