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UAE: ENOC Transfers Sites to ADNOC

UAE: ENOC Transfers Sites to ADNOC

Emirates National Oil Company (Enoc) has announced an agreement to transfer 25 non-operational services stations to the Abu Dhabi National Oil Company (Adnoc) network in Sharjah.     
  


Adnoc is set to start preliminary evaluation and overhaul of the fuel service stations, before rebranding the stations to start operating again but under its own distribution network.   “Through this strategic agreement, we are transferring for free our non-operational sites in Sharjah to Adnoc Distribution,” said Saeed Khoory, the chief executive of Enoc in a statement late Wednesday. “The optimal use of these assets  will benefit Adnoc Distribution in reducing the load of their existing network in the emirate,” he added.     

Sharjah has been witnessing many supply disruptions since 2011, which prompted an ultimatum from its government and a closure of many fuel service stations operated by Enoc. In 2011, Dubai-based Enoc stopped supply fuel to the Northern Emirates.     
  
As reported by PetrolWorld, Adnoc has since then taken over 74 fuel service stations in the UAE that were run by fuel retailer Emarat, 30 of which were in Sharjah. Adnoc will increase the Sharjah-based fuel supply to the Northern Emirates and is expected to build more petrol stations.  PetrolWorld 171214  

Last modified onThursday, 18 December 2014 20:15
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