Middle East Economic Survey
VOL. XLVIII
No 16
18-April-2005
UAE
ENOC Buys Out Caltex Stake In Retailer EPPCO
Dubais Emirates National Oil Company (ENOC) has reached agreement to buy out ChevronTexaco subsidiary Caltexs 40% stake in the joint venture fuel retailer Emirates Petroleum Products Company (EPPCO), ENOC said in a statement on 11 April. The buy-out makes EPPCO, which operates a 129-strong service station network throughout Dubai and the Northern Emirates, a wholly owned subsidiary of ENOC....
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