VOL. XXXVII

NO. 3

18-OCTOBER-1993

UAE

Dubai Government Sets Up Company For Downstream Oil Ventures

The Dubai Government has set up a new holding company with fully paid upcapital of Dh100mn ($27mn) to promote joint venture petroleum projects insideand outside Dubai. The new firm - Emirates National Oil Company (ENOC) - willact as the parent company for the interests of the Dubai Government inestablished companies, according to ENOC's Chief Executive Mr. Husain Sultan. Hesaid that, as a first step,...