Hit By Subsidies At Home, ENOC Looks Abroad
Dubai refiner and retailer Emirates National Oil Company (ENOC) aims to boost operational efficiency and profitability in 2014, having “recorded positive performance, leveraging increased market demand” in 2013.
The company’s main problem is losses on fuels sales within Dubai because of heavily subsidized prices. These are forcing ENOC to look abroad for profit.
“Working to meet the goals of the...