ENOC Marketing posts 10% volume growth for 2015
Product volumes from the Marketing sector of Emirates National Oil Company (ENOC) grew by 10 % in 2015, the company has revealed at its Annual Marketing Conference 2016.
"The ENOC Marketing profile consists of a varied portfolio of product or services, reaching clients within a variety of sectors like aviation, automobile, industry and even individual households," said H.E. Saif Humaid Al Falasi, CEO of ENOC Group. "Volume development in spite of the slump of oil rates is therefore a testament to the differentiation of our items, resourcefulness of our operations and the quality of our sales team.".
ENOC Marketing is accountable for the marketing of items such as jet fuel, liquefied petroleum gas (LPG), lubricants, bulk fuel and alternative fuel like compressed gas (CNG).
"Our core focus is to supply our consumers with a one-stop store of options, regardless of the place or time," said Zaid Alqufaidi, Managing Director, ENOC Marketing. "While economies remain to change, preserving this core value has allowed us to grow market share, in spite of the challenging financial circumstance. From research study with our clients in 2015, consumer fulfillment has actually also enhanced, reflecting the strong performance of our group.".
In spite of the decrease in oil prices, earnings from the Marketing segment contributed 16 % of overall group revenues. "Emirates Gas LLC (EMGAS), our LPG company, and ENOC Industrial Products Marketing are the significant contributors of this section from profitability standpoint," continued Alqufaidi. "These businesses have actually not just grown their volumes but have likewise engaged in effective margin management and much better expense control - activities that have contributed in the growth of ENOC Marketing.".
With the building of the Project Falcon pipeline extension to Al Maktoum International Airport in 2017, jet fuel volumes are anticipated to enhance in the near future.
ENOC Marketing's products are distributed in 70 markets in the Middle East, Indian Subcontinent, South & Central Asia and Africa.
"Looking ahead, we are strongly focusing on volume growth in local and international markets to attain rewarding growth," concluded Alqufaidi. "For the local market, we want to present new technologies and solutions to retain market share. We likewise hope to attract new clients by replicating our business design across international markets. Our technique integrates all opportunities of growth, including entering new markets in Africa, and possible acquisition activity in Asia.".
