Petrol prices will dip slightly in October across the UAE. AP 
Petrol prices will dip slightly in October across the UAE. AP 

Energy

Dubai-based energy firm Enoc eyes Egyptian investment opportunities

The company operates a concession in the North African country through its unit Dragon Oil

Jennifer Gnana
Jennifer Gnana

February 12, 2018

Dubai-based Emirates National Oil Company (Enoc) is looking at investments in Egypt through its wholly-owned subsidiary Dragon Oil as it seeks  to expand its regional footprint.

Dragon Oil, which fully owns the East Zeit Bay offshore concession south of the Gulf of Suez, plans to expand new product portfolios in the country.

"Investing in Egypt's market, the third largest in Africa, complements our business strategy to go beyond the UAE and our commitment to industry-leading performance," said Enoc group chief executive Saif Al Falasi.

Enoc currently sells  lubricants, greases, petrochemicals and aviation fuel to the Egyptian market. Enoc assumed full ownership of Dragon Oil, which operates concessions across Iraq, Afghanistan, Turkmenistan, Egypt, Algeria and Tunisia, last year

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The Dubai firm, which operates the emirate's largest refinery at Jebel Ali, created a dedicated exploration and production unit last year as it eyes opportunities to invest in upstream assets abroad.

Last week, Enoc opened its largest service station in Saudi Arabia and announced plans for more this year.

UAE-based fuel retailers, including Abu Dhabi's Adnoc Distribution, have announced expansion plans in the kingdom to tap its lucrative market.

Enoc is currently undertaking a $1 billion expansion of its Dubai refinery to increase capacity by 50 per cent, with a new condensate processing train raising daily crude oil processing capacity to 210,000 barrels per day (bpd) from a current 140,000 bpd, plus other new units.

Enoc is owned by the Dubai Government with Sheikh Hamdan bin Rashid, Deputy Ruler of Dubai and Minister of Finance as the chairman. Its main upstream asset is the offshore Cheleken field in Turkmenistan that produces about 100,000 barrels of oil per day (bpd).

COMPANY PROFILE
Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4

SPECS

Nissan 370z Nismo

Engine: 3.7-litre V6

Transmission: seven-speed automatic

Power: 363hp

Torque: 560Nm

Price: Dh184,500

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The verdict from the nutritionists is damning. But does a cheesecake frappuccino taste good enough to merit the indulgence?

My advice is to only go there if you have unusually sweet tooth. I like my puddings, but this was a bit much even for me. The first hit is a winner, but it's downhill, slowly, from there. Each sip is a little less satisfying than the last, and maybe it was just all that sugar, but it isn't long before the rush is replaced by a creeping remorse. And half of the thing is still left.

The caramel version is far superior to the blueberry, too. If someone put a full caramel cheesecake through a liquidiser and scooped out the contents, it would probably taste something like this. Blueberry, on the other hand, has more of an artificial taste. It's like someone has tried to invent this drink in a lab, and while early results were promising, they're still in the testing phase. It isn't terrible, but something isn't quite right either.

So if you want an experience, go for a small, and opt for the caramel. But if you want a cheesecake, it's probably more satisfying, and not quite as unhealthy, to just order the real thing.

 

 

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