Logo ofNeft Alsharq Co. for Chemical Industries
Neft Alsharq Co. for Chemical Industries has rolled out its vehicle oil change service center operations under the trade name “Petro Neft.” The move is part of the company’s strategy to expand direct-to-consumer services and enhance vertical integration within its lubricants business.
In a statement to Tadawul, the company stated that seven operational branches have been opened across various cities within the Kingdom. In addition to plans for a gradual expansion according to a structured plan aimed at increasing market share and delivering added value to its affiliated brands.
The project is expected to have a significant investment impact during the current period, resulting in higher operating and capital costs and a reduced profit margin in the short term. However, the company believes this expansion will contribute to diversifying income sources and enhancing long-term profitability.
The self-funded project does not include any related parties, and the company will announce any material development in due course, the statement added.
Logo ofNeft Alsharq Co. for Chemical Industries
Neft Alsharq Co. for Chemical Industries has rolled out its vehicle oil change service center operations under the trade name “Petro Neft.” The move is part of the company’s strategy to expand direct-to-consumer services and enhance vertical integration within its lubricants business.
In a statement to Tadawul, the company stated that seven operational branches have been opened across various cities within the Kingdom. In addition to plans for a gradual expansion according to a structured plan aimed at increasing market share and delivering added value to its affiliated brands.
The project is expected to have a significant investment impact during the current period, resulting in higher operating and capital costs and a reduced profit margin in the short term. However, the company believes this expansion will contribute to diversifying income sources and enhancing long-term profitability.
The self-funded project does not include any related parties, and the company will announce any material development in due course, the statement added.
