ADNOC Distribution is to expand its network of service stations with fuel price profit.
ADNOC and Enoc plan to invest in new petrol stations following the government’s move to deregulate prices.ADNOC Distribution plan to open 125 new fuel service stations across the UAE and Enoc plan to expand its retail network over the next five years.
According to a statement of Enoc’s chief executive Saif Al Falasi, ““Enoc will leverage its strong business model both at the local and regional level and will also meet the growing public demand for more service stations in line with the expected population growth in the UAE over the next five years,”
Meantime ADNOC Distribution chief executive Abdulla Salem Al Dhaheri said, Currently ADNOC Distribution operates 386 fuel service stations and plan to open 125 new service stations. He also said that, “The company will utilise the minor profit margin accrued following the deregulation of the fuel prices to add 125 new service stations that will provide value-added and convenience-enhanced services to customers in the UAE,”
UAE fuel prices for August: http://goo.gl/9TCT1K