UAE’s ENOC to expand refinery, retail network

Emirates National Oil Company (ENOC) said it will focus on expanding its refinery and service station network as part of a new five-year strategy to develop its upstream and downstream capabilities.

The company also plans to build terminals storage capacity and increase its market share in the marketing of diesel, jet fuel and liquefied petroleum gas, it said in a statement Monday.

The expansion plans include a 50 percent increase in capacity at ENOC’s Jebel Ali refinery to reach 210,000 barrels per day, as well as the construction of a 19 kilometer jet fuel pipeline extension to Al Maktoum Airport by end of 2018.

“These projects reflect ENOC’s commitment to supply 60 percent of jet fuel volumes at Dubai Airports by 2050,” the company said.

ENOC will also expand its retail network in Dubai; renovating its major service stations and constructing 54 new ones by 2020.

Under the strategy, ENOC’s board of directors has appointed Zaid Alqufaidi as the new managing director of ENOC Retail and Burhan Al Hashemi as the managing director of ENOC Marketing.

Last year, the company’s sales volume of crude oil and petroleum products crossed 220 million barrels, rising 16 percent from the previous year.