Market Value: $14.9 billion
ADNOC Distribution, a major fuel distributor in the U.A.E., increased its total station network to 568 stations in both the U.A.E. and Saudi Arabia by the end of 2022 after adding 68 stations during the year. The company plans to open 25-35 new stations in 2023. In February 2023, ADNOC Distribution acquired a 50% stake in TotalEnergies Marketing Egypt for over $200 million. In 2023, the company agreed with TAQA Group to establish a mobility joint venture, E2GO, to build and operate electric vehicle infrastructure in the U.A.E. Abu Dhabi National Oil Company (ADNOC) is the parent company of ADNOC Distribution, with an 77% stake.