Saudi Arabia Launches New Global Bunkering Company ‘Eleven Energy’

Saudi Arabia has officially entered the global bunker and marine fuel market with the launch of Eleven Energy, a new company founded by His Royal Highness Prince Abdulaziz Al Saud bin Turki.

Eleven Energy is a part of Eleven Ventures, a project led by the prince to expand Saudi Arabia’s role in global energy. The new company will focus on marine fuel trading and physical bunkering services around the world.

The company said Prince Abdulaziz is a strategic leader committed to growing Saudi Arabia’s role in global markets. Under his leadership, Eleven Ventures is building a diverse energy portfolio, with Eleven Energy leading its bunkering and marine fuels business.

According to a company representative, the goal is to make Eleven Energy a major player in the international bunker sector by offering innovative, reliable, and scalable fuel supply solutions.

The company is headquartered in Saudi Arabia, with a second office in Rotterdam, one of the world’s key shipping hubs. It also plans to set up teams at all major global bunkering locations.

Industry veteran Chris Todd has joined Eleven Energy as Head of Global Trading. He brings over 20 years of experience in marine fuels and physical supply, having worked at leading firms including World Fuel Services, Chemoil, OceanConnect Marine, Soyuz Bunkering, GP Global, and most recently, Delta Energy Fuel Supply & Trading, where he led global trading until April 2024.

The company stated that Todd and Prince Abdulaziz share a strong working relationship built on trust and respect, and share a vision to grow Saudi Arabia’s role in global marine fuels. Todd will lead the company’s trading and fuel supply operations worldwide.

All business transactions and partnerships will be carried out under Eleven Ventures, which the company says offers customers added security by dealing with a trusted and financially strong entity.

References: offshore technology, oil price

Source: Maritime Shipping News