Dubai's ENOC expands overseas jet fuel supplies, sells $40m per year

Emirates National Oil Company says capability expanded to Hong Kong, South Korea, Oman, Kenya and Rwanda
Dubai's ENOC expands overseas jet fuel supplies, sells $40m per year
(Bloomberg)
By Staff writer
Tue 25 Oct 2016 02:06 PM

Emirates National Oil Company (ENOC) has said it has extended its jet fuel supply capability to Hong Kong, South Korea, Oman, Kenya and Rwanda, selling in excess of $40 million per year outside the UAE.

The state-owned company said it has established a solid global presence in 112 airports across 16 countries as it celebrates 20 years of fuel supply operations.

Saif Humaid Al Falasi, Group CEO, ENOC, said: “Since its inception in 1996, our aviation division has become a significant player in the region’s aviation sector.

"After establishing operations at Dubai International Airport 20 years ago, the company’s jet fuel supply has seen exponential growth. Today it supplies in excess of 10 million litres of jet fuel per day to a diversified portfolio of clients.”

He added: “Jet fuel makes up a significant portion of the operating expenses for an airline, so formulating agreements with major carriers is a competitive tender process... this business has grown significantly.”

In August, ENOC announced a new growth strategy aimed at serving Dubai's growing energy needs while developing an integrated upstream and downstream energy value chain to drive future growth.

As part of the five-year strategy 2016-2021, ENOC said it will focus its efforts and investments on fulfilling Dubai's energy needs through the expansion of its refinery and service station network, building terminals storage capacity, and increasing its market share in the marketing of diesel, jet fuel and LPG.

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