The Group made progress on its $1 billion refinery expansion project
ENOC Group’s sales volume reached 249 million barrels in 2017, the company announced on Sunday.
“The UAE is an integral player in the global energy landscape and is at the forefront of driving energy security and efficiency through diversification and sustainable development initiatives,” group CEO Saif Humaid 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.”
In a statement, Al Falasi said that 2017 was a “milestone” for ENOC, a fact highlighted by the expansion of its $1 billion refinery expansion project which will increase the supply of refined oil products by 50 percent and produce premium products that will meet Euro 5 requirements.
Earlier in 2018, ENOC Group was awarded the EPC (engineering, procurement and construction) contract for the construction of the jet fuel pipeline extension to Al Maktoum International Airport in Dubai South.
Slated for completion in time for Expo 2020, the 16.2-kilometre will carry 2,000 cubic metres of jet fuel per hour, meeting the demand for jet fuel at the airport until 2050.
“Projects like the expansion of the refinery and the jet-fuel pipelines are crucial to responding to the transformational growth the UAE is witnessing,” Al Falasi said.
Additionally, ENOC announced that 120 million transactions at the company’s retail outlets in 2017, 30 million more than in the previous year.
The group also opened six stations in 2017, part of a larger effort to open 54 stations by 2020.For all the latest energy and oil news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.