Kippreport investigates if oil prices aren’t the only cause for the market slumpAugust 27, 2015 12:00
The ADNOC invasion…and so it has begun.
Are the days of Dubai petrol retailers coming close to an end as ADNOC looks to expand into Dubai?
December 24, 2012 12:51 by Eva Fernandes
At the height of the petrol-crisis of 2011 in the UAE, EPCO and ENOC shut down more than 74 fuel stations together. The stations were quickly replaced by big brother Abu Dhabi National Oil Company who came to the rescue. ADNOC took over all of ENOC stations in the UAE, except for the one’s in Dubai.
Whether it was an issue of pride or good business sense, it was only going to be a matter of time till the capital’s petrol pump had a presence in Dubai—which is why we are not surprised to hear that nearly a year and a half later, ADNOC is looking into set up shop in Dubai.
According to local new agency WAM, ADNOC is currently scouting for ten locations to open petrol stations in Dubai.
With ENOC setting it sights on foreign shores (the company struck up an agreement with Saudi retailer Aldrees to open 40 stations in Saudi with a 50:50 partnership earlier this year), could this ADNOC mark the beginning of the end of Dubai’s darling petrol stations? For selfish reasons, Kipp isn’t complaining—a chance to pay by card at the pump is a happy by-product of this shake up of Dubai’s monopoly on petrol retailers in the Emirate.