Middle East Economic Survey

VOL. XLVIII

No 7

14-February-2005

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Ras Al-Khaimah Oils Company Formed

Ras al-Khaimah Oils Company, which was formed recently by an Amiri decree, held its first board meeting on 6 February, chaired by Muhammad al-Mahrazi. The limited liability firm is owned by the government of Ras al-Khaimah and Irans Bahran Oil Company. Ras al-Khaimah Oils, capitalized at Dh50mn ($14mn), will produce and bottle petroleum products relying on the local and international markets to...