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UAE: ENOC Group Makes Sales Volume Of 249 Million Barrels In 2017

UAE: ENOC Group Makes Sales Volume Of 249 Million Barrels In 2017

Bolstered by the Group’s strategic expansion of trading activities, retail operations, energy storage and fuel product marketing efforts, ENOC Group has been able to make an achievement in sales volume of 249 million barrels in 2017.

“The UAE is an integral player in the global energy landscape and is at the forefront of driving energy security and efficiency through diversification and sustainable development initiatives. With a focus on strengthening our core competencies in the energy sector, we continue to invest in long-term critical infrastructure projects that fulfil Dubai and the UAE’s energy needs,” said Group CEO of ENOC, His Excellency Saif Humaid Al Falasi.

Highlighted by the expansion of its refinery project as well as the strengthening of its retail footprint, 2017 was a milestone year for ENOC, which contributed to job creation and supported industrial performance for key sectors such as aviation and transport.

Led by 100 per cent plant utilization rate, ENOC’s refinery achieved one of its highest-to-date throughputs in 2017. Significant progress has been made on the US$1 billion refinery expansion project which is expected to increase the supply of refined fuel products by 50 per cent and produce premium products that will meet stringent Euro 5 requirements

ENOC’s products and aviation arms demonstrated strong growth in volumes, due to underlying market demand and improved market share especially with the partnership between Emirates Gas and Dubai Properties to install LPG Composite Cylinders and the launch of Biodiesel5 as a green initiative.

A significant increase in fuel sales volume has been the result of ENOC’s continuous focus on customer service, innovation and supply chain synergies coupled by sustained domestic demand. Over 120 million transactions were conducted in 2017 at ENOC’s fuel service stations, which is an increase of 30 million transactions compared to 2016. As per schedule to open 54 fuel service stations by 2020, the group has opened six stations in 2017.

To support the UAE’s economic requirements and environmental goals, the Group announced that all upcoming ENOC fuel service stations will be powered by solar energy, highlighting its commitment to energy and resource management targets. Minimizing the load on DEWA’s grid and power generating stations, ENOC estimates more than 23 GWh of solar energy will be generated to power the new stations by 2020. PWKD08052018

Last modified onTuesday, 08 May 2018 02:04
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