ENOC Group Achieves Sales Volumes of 249 million Barrels in 2017

Business

ENOC Group Achieves Sales Volumes of 249 million Barrels in 2017

ENOC Group's sales volume in 2017 reached 249 million barrels, underpinned by the Group's strategic development of trading activities, retail operations, power storage and petroleum product marketing efforts.

His Excellency Saif Humaid Al Falasi, Group CEO of ENOC, said: "The UAE is an integral player in the global power landscape and is at the leading edge of driving energy safety and security and efficiency through diversification and sustainable growth efforts.

With a concentrate on strengthening our core expertises in the energy sector, we continuously purchase long-term important framework tasks that fulfil Dubai and the UAE's power requirements. Projects like the expansion of the refinery and the jet-fuel pipes are critical to responding to the transformational development the UAE is seeing."

H.E. Al Falasi said 2017 was a turning point year for ENOC, highlighted by the development of its refinery project along with the fortifying of its retail impact, which added to work development and supported industrial efficiency for key sectors such as aviation and transport.

In 2017, ENOC's refinery attained one of its highest-to-date throughputs led by 100 per cent plant exercise rate. ENOC also noted substantial development on the US$ 1 billion refinery development project which will increase the supply of improved oil products by 50 per cent and generate premium products that will certainly satisfy stringent Euro 5 demands.

Led by underlying market demand and boosted market share, ENOC's products and air travel arms demonstrated strong development in quantities, especially with the partnership between Emirates Gas and Dubai Properties to set up LPG Composite Cylinders and the launch of Biodiesel5 as a green initiative.

Previously in 2018, the Group awarded the EPC agreement for the construction of the jet gas pipeline extension to Al Maktoum International Airport Terminal at Dubai South. Ready to be operational in time for Exposition 2020, the 16.2-kilometre pipe will carry 2,000 cubic metres of jet fuel each hour to Al Maktoum International Airport. ENOC's network of jet fuel pipelines intends to satisfy the demand for jet gas at Dubai Airports up till 2050.

ENOC's constant focus on customer support, innovation and supply chain harmonies paired by continual residential need has also caused a considerable increase in gas sales volume. In 2017, over 120 million purchases were conducted at ENOC's retail outlets; an increase of 30 million transactions compared with 2016. The Group opened up six terminals in 2017 - as per timetable to open 54 stations by 2020.

Highlighting its commitment to energy and resource monitoring targets, the Group introduced that all upcoming ENOC filling station will certainly be powered by solar energy to support the UAE's financial needs and environmental goals. ENOC estimates greater than 23 GWh of solar energy will certainly be generated to power the new stations by 2020, reducing the load on DEWA's grid and power producing stations.