Saudi Prince Launches Eleven Energy to Reshape Global Bunkering Landscape
Saudi Arabia has made a significant move to enter the global marine fuel industry with the launch of Eleven Energy, a new bunkering company founded by Prince Abdulaziz bin Turki Al Saud. The company aims to build a reliable and secure global supply chain for bunker fuels, positioning the Kingdom as a key player in the international maritime energy market.
Eleven Energy is a subsidiary of Eleven Ventures and represents Saudi Arabia's first attempt to establish a globally operating marine fuel company. The firm will be headquartered in Riyadh, with regional offices in Dammam and Rotterdam. These locations are strategically selected to serve critical shipping corridors and major bunkering hubs worldwide.
The appointment of Chris Todd as Global Head of Trading marks a significant step for the company. Todd, a veteran of the bunker fuel industry, brings over two decades of experience from major firms such as Chemoil, Delta Energy, GP Global, and World Fuel Services. His leadership is expected to provide both operational strength and market credibility as Eleven Energy expands its services globally.
The launch of Eleven Energy aligns closely with Saudi Arabia’s Vision 2030, which seeks to diversify the nation’s economy beyond oil exports and develop competitive global sectors. By entering the bunkering market, Saudi Arabia is positioning itself to challenge established fuel supply centers such as Singapore, Fujairah, and Rotterdam, while offering shipowners new options for cost-effective and dependable fuel sourcing.
According to the company, its core mission is to provide innovative, transparent, and financially secure bunkering services. Backed by royal capital and operating under a well-funded venture structure, Eleven Energy intends to stand out in an industry often characterized by financial risk and reliability concerns.
This strategic entry into global bunkering not only expands the Kingdom’s economic reach but also signals a shift in maritime fuel dynamics. As the industry faces increasing pressure to innovate, ensure compliance, and improve sustainability, Eleven Energy’s presence may prompt a recalibration of market strategies among existing players.
The coming months will reveal how quickly the new venture can secure partnerships, scale operations, and gain trust among global shipping clients. Nonetheless, with high-level backing and seasoned leadership, Eleven Energy is set to become a significant force in the evolving marine energy landscape.
