26 Feb 2010
(MENAFN) Dubai-based Emirates National Oil Co (ENOC) said that it will focus existing operations and hold back on acquisitions this year, Reuters reported.
The firm’s CEO, Petri Pentti, did not dismiss the idea of acquisitions through the year, but said that for the time being the company’s focus would be on the vertical integration of the business and upgrading our refineries.
The state-owned ENOC, which started commissioning new units at its Jebel Ali refinery in December after completing a $850 million overhaul, is raising capacity to about 120,000 barrels a day (bpd) from 70,000 at present, Pentti said.
He also pointed out that ENOC held assets worth $6.5 billion at the end of 2009.
It is worth mentioning that ENOC is a downstream-focused firm owned by the emirate’s sovereign wealth fund Investment Corporation Dubai, and it operates service stations, fuel terminals and oil tankers in the Gulf.
13 Apr 2026
BBK launches the Youth Advisory Council (YAC) to empower youth and advance innovation
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more