Aldrees calls for higher fuel margin on post fuel price hikes
Aldrees Petroleum and Transport Services Company CEO Abdallah bin Saad Aldrees said the company has requested higher fuel margins on the back of rising fuel prices (fuel margins were unchanged in the last price hike earlier this month). With regard to station closures, he said that they would be largely dependent on the owners’ acceptance of lower rent. Aldrees also added that with lower demand for fuel anticipated, the company was gearing its focus towards enhancing operational efficiency and logistics expansions. Aldrees: SAR25.40 as of 21 Jan. 2018, Rating: Neutral, TP: SAR32.00/share, MCap: USD339mn, ALDREES AB/4200.SE
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