UAE's ENOC to open 40 new service stations despite COVID-19 slowdown

Fuel retailer reaffirms commitment to expansion plans

  
General view of Enoc petrol station logo on September 25, 2017 in Dubai, United Arab Emirates. Image for illustrative purposes.

General view of Enoc petrol station logo on September 25, 2017 in Dubai, United Arab Emirates. Image for illustrative purposes.

Getty Images/Tom Dulat / Stringer

UAE’s fuel retailer ENOC (Emirates National Oil Company) said on Wednesday that it remains committed to its expansion plans despite the challenges posed by the coronavirus pandemic and will be opening a total of 40 additional service stations across the country by the end of next year.

The first tranche of the expansion will involve the opening of 16 service stations in in Dubai, Sharjah and the northern emirates by the end of 2020, while the remaining 24 outlets will open by the end of 2021.

This will bring the company’s retail network to 192 stations.

Markets around the world have seen significant declines in demand for fuel this year, particularly during the coronavirus lockdown. As of May, motor gasoline demand posted a 44 percent fall over the previous weeks, while jet fuel demand also dropped by 62 percent.

Resilient

According to ENOC, the company remains resilient despite the crisis and that it is on track to meet its expansion targets.

“The Group is on track with its [expansion plans],” the company said in a statement.

Saif Humaid Al Falasi, group CEO of ENOC, said they are committed to developing a “robust retail infrastructure to serve the UAE for the next five decades”, in accordance with the vision of His Highness Shaikh Mohammad bin Rashid Al Maktoum, UAE vice president, prime minister and ruler of Dubai.

“Our promise is to ensure that customers have access to an uninterrupted supply of fuel as well as access to best-in-class automotive and retail services. Despite the challenging times, we have demonstrated our resilience and remain committed to serve the nation,” Al Falasi said.

The upcoming ENOC outlets will have Zoom stores, which offer customers more than 7,500 products including confectionary and snacks, as well as hot and cold beverages.

The Group also unveiled plans to build two marine stations at Dubai Harbour and Umm Suqeim to serve the fueling needs of boat and yacht owners.

(Writing by Cleofe Maceda; editing by Seban Scaria)

Cleofe.maceda@refinitiv.com

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© ZAWYA 2020

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