The Arab Energy Fund Acquires Minority Stake in APSCO, Supporting Regional Growth in Energy Solutions
The Arab Energy Fund (TAEF), a leading multilateral impact financial institution, today announced the acquisition of a strategic minority stake in Arabian Petroleum Supply Company (“Apsco”), one of the largest private-sector energy solutions companies in the Kingdom of Saudi Arabia.
The investment marks the beginning of a strategic partnership focused on jointly exploring growth opportunities and new initiatives across the Middle East, North Africa, and selected international markets, spanning Apsco’s core and adjacent sectors.
Established in 1960 and a subsidiary of Haji Abdullah Alireza and Company Limited (“HAACO”), Apsco has built a six-decade legacy as a trusted provider of integrated energy solutions. The company operates across aviation fuels, lubricants manufacturing and distribution, and retail automotive services, serving a broad base of commercial, industrial, and consumer clients.
Apsco maintains long-standing strategic partnerships with global energy leaders, including a relationship with ExxonMobil spanning more than 60 years for the distribution of lubricants across Saudi Arabia, Lebanon, Yemen, Bahrain, and Jordan. The company is also the exclusive aviation fueling services provider for Saudia, a role it has held since 1999.
Khalid Al-Ruwaigh, Chief Executive Officer, The Arab Energy Fund, said: “Apsco represents a unique platform with strong fundamentals and a proven track record in critical energy segments. This investment aligns with our mandate to support high-quality energy and energy-adjacent businesses that are well-positioned to capture growth across the region and beyond.”
Mr. Mohammed Ali Ibrahim Alireza, Managing Director, Apsco, said: “We welcome The Arab Energy Fund as a strategic partner supporting our next phase of growth. As a pioneer in energy solutions for over 60 years, Apsco remains committed to quality, reliability, and innovation, while continuing to contribute to Vision 2030 by enhancing efficiency and minimizing environmental impact.”
Through this investment, The Arab Energy Fund aims to support Apsco’s long-term growth strategy, operational excellence, and geographic expansion, while leveraging its regional expertise, institutional network, and deep sector knowledge.
This transaction marks the first investment of 2026, building on a highly active 2025 during which The Arab Energy Fund completed multiple transactions, including its investments in Jafurah Midstream Gas Company (JMGC) alongside BlackRock, and in “Tagaddod”.
The current transaction underscores The Arab Energy Fund’s commitment to investing in established regional champions while fostering innovation, resilience, and sustainable growth across the energy value chain.
