Shell to Open First Fuel Station in Riyadh
Shell International is set to open its first fuel station in Riyadh later this year, following an agreement with Asyad Holding Group. The move is part of the Saudi Energy Ministry’s efforts to bring international companies into the Kingdom and supports the objectives of Vision 2030. The deal is the result of the efforts of Saudi Arabia’s permanent executive committee of service centers and gas stations, which aims to develop the facilities through the entry of leading international companies.
Saudi Wafi Energy Co. signed an agreement with Shell Global last year, giving the Saudi firm an exclusive franchise right to establish and operate Shell fuel stations and car service stations across the Kingdom. On March 10, the ministry inked a cooperation agreement with the Small and Medium Enterprises General Authority, known as Monsha’at, to organize the franchise-granting process for petrol stations.
The agreement guarantees supply security in the sector, maximizes added value, and overcomes economic challenges. It also supports franchise parties by offering programs, advisory services, and training services. The agreement highlights the value of SMEs in bolstering the domestic economy, accelerating economic growth, and increasing the production base in line with Vision 2030.
Heading: Shell to Open First Fuel Station in Riyadh
Shell International has signed an agreement with Asyad Holding Group to open its first fuel station in Riyadh later this year. The move is part of the Saudi Energy Ministry’s efforts to bring international companies into the Kingdom and supports the objectives of Vision 2030. The deal is the result of the efforts of Saudi Arabia’s permanent executive committee of service centers and gas stations, which aims to develop the facilities through the entry of leading international companies.
Heading: Saudi Wafi Energy Co. Signs Agreement with Shell Global
Saudi Wafi Energy Co. signed an agreement with Shell Global last year, giving the Saudi firm an exclusive franchise right to establish and operate Shell fuel stations and car service stations across the Kingdom. The move is part of the Saudi Energy Ministry’s efforts to bring international companies into the Kingdom and supports the objectives of Vision 2030.
Heading: Cooperation Agreement with Small and Medium Enterprises General Authority
On March 10, the ministry inked a cooperation agreement with the Small and Medium Enterprises General Authority, known as Monsha’at, to organize the franchise-granting process for petrol stations. The agreement guarantees supply security in the sector, maximizes added value, and overcomes economic challenges. It also supports franchise parties by offering programs, advisory services, and training services.
Heading: Value of SMEs in Bolstering Domestic Economy
The agreement highlights the value of SMEs in bolstering the domestic economy, accelerating economic growth, and increasing the production base in line with Vision 2030. The move is part of the Saudi Energy Ministry’s efforts to bring international companies into the Kingdom and supports the objectives of Vision 2030.
Heading: Conclusion
The opening of Shell’s first fuel station in Riyadh later this year is a significant step towards achieving the objectives of Vision 2030. The move is part of the Saudi Energy Ministry’s efforts to bring international companies into the Kingdom and supports the value of SMEs in bolstering the domestic economy, accelerating economic growth, and increasing the production base. The cooperation agreement with Monsha’at guarantees supply security in the sector, maximizes added value, and overcomes economic challenges.