VOL. XLV

No 50

16-December-2002

UAE

ENOC Buys 20% Stake In Petronas Energy Philippines

Emirates National Oil Company (ENOC), the holding company owned by the government of Dubai, announced on 2 December that it had signed an agreement to buy a 20% stake in Petronas Energy Philippines valued at $3.5mn. The current owners are Petronas Energy (60%) and private investors in the Philippines (40%). Petronas Energy Philippines distributes LPG in the southern Philippines. In a separate development, ENOC...