AD Ports and Adnoc Distribution Partner to Expand Global Lubricant Distribution

UAE, 20 April, 2024 :  AD Ports Group has announced a strategic agreement with Adnoc Distribution to expand its global operations in marine lubricants distribution. The Ports Cluster subsidiary of AD Ports, which operates 24 terminals worldwide, will begin by selling lubricants in the UAE before expanding globally.

Saif Al Mazrouei, CEO of Ports Cluster, highlighted the partnership between two major corporations with extensive expertise, creating new opportunities in the marine lubricants market. He emphasized the added value the distribution solutions will bring to partners and stakeholders.

AD Ports has a presence in over 40 countries and, under its Kezad Group, manages more than 550 square kilometres of economic zones in Abu Dhabi. The company has been expanding rapidly, recently acquiring a majority stake in a dry port in Tbilisi, Georgia, and fully acquiring APM Terminals Castellon in Spain for €10 million.

Bader Al Lamki, CEO of Adnoc Distribution, commented on the strategic agreement, stating it expands their product distribution to over 70 international destinations. Adnoc Distribution reported a 61.4% increase in fourth-quarter profit, driven by higher retail fuel sales, with revenue climbing nearly 17% annually to Dh9.56 billion ($2.6 billion) in the reporting period.

In 2023, Adnoc Distribution surpassed its target by adding 41 new fuel stations and plans to add 15-20 more stations this year.

Source : www.thenationalnews.com