Dubai's Emirates National Oil Company (ENOC Group) saw steady growth last year that was underpinned by the Group’s focus on business expansion.
ENOC Group’s sales volume in 2017 reached 249 million barrels, underpinned by the Group’s strategic expansion of trading activities, retail operations, energy storage and petroleum product marketing efforts.
H.E. Saif Humaid Al Falasi, Group CEO of ENOC, said 2017 was a milestone year for ENOC, highlighted by the expansion of its refinery project as well as the strengthening of its retail footprint, which contributed to job creation and supported industrial performance for key sectors such as aviation and transport.
H.E. Al Falasi said: “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. Projects like the expansion of the refinery and the jet-fuel pipelines are crucial to responding to the transformational growth the UAE is witnessing.”
In 2017, ENOC’s refinery achieved one of its highest-to-date throughputs led by 100 per cent plant utilisation rate. ENOC also marked significant progress on the US$1 billion refinery expansion project which will increase the supply of refined oil products by 50 per cent and produce premium products that will meet stringent Euro 5 requirements.
Earlier in 2018, the Group awarded the EPC contract for the construction of the jet fuel pipeline extension to Al Maktoum International Airport at Dubai South. Set to be operational in time for Expo 2020, the 16.2-kilometre pipeline will carry 2,000 cubic metres of jet fuel per hour to Al Maktoum International Airport.