Adnoc seeks to acquire 24 petrol pumps in Sharjah

Adnoc, one of the world’s largest oil producing firms, is locked in negotiations to acquire 24 petrol stations in Sharjah as part of an initial agreement inked in 2012 with Emirates General Petroleum Corporation (Emarat) to take over 74 pumps in the northern emirates, an Adnoc official said in remarks published on Sunday.

Abdullah Al Dahiri, CEO of Adnoc for Distribution, said the negotiations have reached their final stages and Adnoc could re-commission the 24 stations in the first quarter of 2014 in case the talks lead to an agreement.

Quoted by Arabic language dailies, he said the 24 stations had been owned by Dubai-based Enoc before it stopped operating them in mid-2011.

“These negotiations are part of our agreement with Emarat in May 2012 to take over 74 petrol stations in Sharjah, Ras Al Khaimah, Ajman, Umm Al Quwain and Fujairah.”

Dahiri said Adnoc-Fod has been locked in a strategy to expand its operations to other countries, including Saudi Arabia, adding that the services also include jet fuel.

“Adnoc-Fod is also planning to set up new petrol pumps on Saadiyat Island,” he said.