Adnoc Distribution , the United Arab Emirates ' ( UAE ) leading fuel distributor , is actively seeking overseas acquisitions in its fuel retail and wholesale businesses . The company has $ 200 m to spend , and is in discussions with partners to enter the competitive Saudi market . Adnoc reported a net profits of AED558 ##m ( $ 152 m ) , while revenues for the quarter were up 24 % year - on - year to AED5.96bn . In addition , Adnoc 's Q3 capex fell 78 % , due to the " abnormally high " capex of Dubai .
Adnoc Distribution, the United Arab Emirates' (UAE) leading fuel distributor, is actively seeking overseas acquisitions in its fuel retail and lubricants businesses. The company has $200m to spend, and is in discussions with partners to enter the competitive Saudi market. Adnoc reported Q3 net profits of AED558m ($152m), while revenues for the quarter were up 24% year-on-year to AED5.96bn. In addition, Adnoc's Q3 capex fell 78%, due to the "abnormally high" capex of 2017.