Middle East Economic Survey
VOL. LIV
No 19
9-May-2011
UAE
ENOC Expects To Spend $735Mn On Fuel Subsidies In 2011
The Emirates National Oil Company (ENOC) one of two fuel marketing and distribution companies in Dubai revealed on 30 April that it expects to spend a total of AED2.7bn ($735mn) this year on providing fuel subsidies. This figure represents an 80% increase from the AED1.5bn ($408mn) it spent in 2010 on subsidies. Due to the rise in the price of fuel in the international markets,...
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