Oil giant Saudi Aramco plans to enter the kingdom’s retail market by setting up gas stations fully owned by the company, a report said.

The move is part of the comapny's strategy to become an integrated energy firm with interests in petrochemicals and refined products, said the Arab News report.

The project for retail push began by the end of last year, said the company’s annual report said.

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 report said.

The new company is licensed to build, operate and maintain service stations in selected areas.


The move is part of the comapny's strategy to become an integrated energy firm with interests in petrochemicals and refined products, said the Arab News report.

The project for retail push began by the end of last year, said the company’s annual report said.

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 report said.

The new company is licensed to build, operate and maintain service stations in selected areas.