VOL. XLVII

No 15

12-April-2004

UAE

ENOC/China Aviation Oil Sign MOUs For Oil Terminals/Joint Investments

Emirates National Oil Company (ENOC) and China Aviation Oil (Singapore) Corporation on 24 March signed two memorandums of understanding (MOUs) covering joint ventures between the two. The first envisages CAO taking a 20% stake in Horizon Terminals, a wholly-owned ENOC subsidiary, as part of its efforts to secure larger volumes of jet fuel from the Middle East. Under the second MOU, CAO and...