Saudi Aramco creates fuel retail subsidiary to expand downstream
FILE PHOTO: An Aramco oil tank is seen at the Production facility at Saudi Aramco's Shaybah oilfield in the Empty Quarter, Saudi Arabia May 22, 2018. REUTERS/Ahmed Jadallah/File Photo
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DUBAI (Reuters) – Saudi Aramco said on Wednesday it was establishing a domestic fuel retailing subsidiary as part of the national oil company’s drive to expand into downstream businesses.
The new firm, Saudi Aramco Retail Co, will create a network of filling stations within Saudi Arabia to sell automotive fuels, Aramco said without giving details of the size, cost or time-frame for the network.
(Reporting by Andrew Torchia; Editing by Robin Pomeroy)