Emirates National Oil Company (ENOC) has extended its jet fuel supply capability to Hong Kong, South Korea, Oman, Kenya and Rwanda, selling in excess of $40mn per year outside the UAE, the company said in a press release.
The state-owned company said it has established presence in 112 airports across 16 countries as it celebrates 20 years of fuel supply operations.
CEO Saif Humaid Al Falasi said, “Jet fuel makes up a significant portion of the operating expenses for an airline, so formulating agreements with major carriers is a competitive tender process… this business has grown significantly.”
In August, ENOC announced a new growth strategy aimed at serving Dubai’s growing energy needs while developing an integrated upstream and downstream energy value chain to drive future growth.
As part of the five-year strategy 2016-2021, ENOC said it will focus its efforts and investments on fulfilling Dubai’s energy needs through the expansion of its refinery and service station network, building terminals storage capacity, and increasing its market share in the marketing of diesel, jet fuel and LPG.
