ABU DHABI - The Oil Market.
ADNOC-FOD acts as a monopoly in Abu Dhabi and, together with foreign oil companies, used to dominate the rest of the UAE market. The dominant role of the foreign oil companies in the other emirates ended in 1980 when the federal entity, Emirates General Petroleum Corp. (EGPC), began distributing oil products. Based in Dubai, EGPC operated service stations in all emirates but Abu Dhabi. To compete with ADNOC-FOD, EGPC in 1992 started buying unleaded gasoline from the international spot market. In 1988 a third distribution company entered the market: Dubai state-owned Emirates Petroleum Products Co. (Eppco), which opened service stations in Dubai and later expanded to other emirates including Fujairah. But the Abu Dhabi market was closed to Eppco. Dubai's Emirates National Oil Co. (ENOC) has a condensate refinery at Jebel Ali on stream since 1999 (see 2002 UAE survey in Vol. 58).
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|Publication:||APS Review Downstream Trends|
|Date:||Jan 6, 2003|
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