Arab Energy Fund Takes Minority Stake in Saudi Energy Firm APSCO
RIYADH – The Arab Energy Fund (TAEF) has acquired a minority stake in Saudi Arabia’s Arabian Petroleum Supply Co. (APSCO), supporting one of the Kingdom’s largest private energy solutions providers as it seeks to expand across the Middle East and beyond.
The investment marks the start of a partnership aimed at exploring opportunities in APSCO’s core and adjacent business sectors throughout the Middle East, North Africa, and select international markets. It reflects TAEF’s commitment to backing established regional leaders while fostering innovation and sustainable growth across the energy value chain.
This transaction is TAEF’s first investment of 2026, following an active 2025 that included deals in Jafurah Midstream Gas Co., alongside BlackRock, and in the energy platform Tagaddod.
Khalid Al-Ruwaigh, CEO of TAEF, said APSCO “represents a unique platform with strong fundamentals and a proven track record in critical energy segments” and added that the investment aligns with the fund’s mandate to support high-quality energy and energy-adjacent businesses poised for regional and international growth.
Mohammed Ali Ibrahim Alireza, APSCO’s managing director, welcomed TAEF as a strategic partner, emphasizing APSCO’s 60-year legacy in energy solutions, commitment to innovation, and alignment with Saudi Vision 2030 through efficiency improvements and environmental initiatives.
The partnership aims to strengthen APSCO’s long-term growth strategy, operational excellence, and geographic expansion, leveraging TAEF’s regional expertise and institutional network.
APSCO provides integrated energy solutions, including aviation fuels, lubricants, and a nationwide automotive retail network. The company maintains long-term partnerships with global energy leaders, including a 60-year lubricant distribution relationship with ExxonMobil and exclusive aviation fueling services for Saudia since 1999.
