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....