IPT is preparing to
enter the Saudi market

Issues a sustainability report, a first for a local energy company

IPT Group Holding, the distributor of petroleum products, is preparing to enter the Saudi market after having established a company there specialized in the management of gas stations, said Toni Issa Executive Chairperson of Issa Group, owner of IPT Group Holding.

“This is part of our regional expansion strategy. We are building on our experience in downstream distribution of petroleum products in Lebanon to expand in the region. We are expanding through subsidiaries that are fully-owned by the IPT Group,” Issa said. The company entered the United Arab Emirates (UAE) in 2021 where it established subsidiaries involved in the trade and distribution of petroleum products. It has a large terminal in the Emirate of Sharjah with a storage capacity of 90,000 tons.

“We strive to adapt and develop, expanding our business into foreign markets while remaining well rooted in Lebanon. Our presence in the UAE, and soon-to-expand operations in Saudi Arabia, reflect our commitment to growth and resilience. We continuously seek new partnerships and opportunities to enhance our operations while staying true to our vision of conducting our business responsibly,” Issa said. IPT Energy, the group’s global expansion arm, announced at the beginning of 2024 that it had invested AED40 million ($11 million) in Sharjah as an initial investment and plans to double its investment to AED80 million by 2025-2026.

IPT Group has also recently acquired a majority stake in JETTCO, a jet fuel supplier to airlines operating at Beirut’s Rafic Hariri International Airport.

In other news, IPT Group has released its Sustainability Report for 2023. The report, which was prepared in accordance with the Global Reporting Initiative (GRI) standards, is in line with the UN’s Sustainable Development Goals (SDGs). It is IPT’s first sustainability report and the first of its kind to be issued by a company operating in the oil, gas, and energy sector in Lebanon.

Issa said that his company has been committed to sustainability and social responsibility activities for many years, making it an integral part of its business strategy. He said: “What we are doing is not mandated by the Ministry of Energy or any other official authority. We adhere to it voluntarily because it reflects a deep conviction.”

The company has established a sustainability unit as part of its administrative structure, and created a sustainability committee comprising various departments and divisions of the group. It has also appointed a sustainability consultant. The four pillars of IPT’s sustainability efforts are the quality, health, and safety pillar, energy and environmental management, enriching local community, and human capital excellence.

IPT, which was founded more than 50 years ago, has a network of over 240 gas stations across Lebanon, some of them are owned by the company and the remainder are franchised stations.