ENOC's Group Chief Executive Officer Saif Al Falasi has announced the expansion of the organization's retail network over the next few years and has said that the company will be enhancing the quality of products and services to deliver an improved customer experience. ENOC will also be looking at bringing forward its expansion plans to new geographies regionally.
Al Falasi said: “ENOC will leverage its strong business model both at the local and regional level due to the company's strong performance during the last five years. With the Ministry of Energy having deregulated oil prices, this decision will now enable us to move forward with our expansion plans and continue investing in technologies that enhance customer service and experience. We will also meet the growing public demand for more service stations in line with the expected population growth in the UAE over the next five years.
“ENOC will strive to be a leading local and regional integrated oil & gas group highly profitable and socially responsible towards employees, community and environment. We cannot forget that all our efforts will also contribute towards making the UAE a world-leading destination to live and work.”
Al Falasi explained that while the Dubai-headquartered company continues to be a local champion and is an integral part of Dubai's success story, the group is also looking keenly at expanding its operations outside of its home market and pursuing many opportunities at various levels.
“Through innovation and excellence we will continue our high governance and operational standards in ensuring that we enforce sustainable operations and thus contribute to UAE's economic development,” he added.
The ENOC chief also praised the UAE Government's and the Ministry of Energy's far-sighted vision in deregulating oil prices ensuring that the UAE will stand to benefit in many ways. He said that linking price of petrol to the price of oil will help rationalize fuel consumption and could in the long-run encourage the use of public transport, as well as incentivizing the use of alternative fuels.
“The UAE has embarked upon a sustainability journey to nurture high quality of life for future generations. The deregulation of prices is in line with the government's efforts to reduce high consumption rates in an effort to conserve resources. The UAE Government wants to ensure sustainable development while preserving the environment, and to achieve a balance between economic and social development. ENOC whole-heartedly supports this strategy,” Al Falasi noted. — SG
