Sharjah: Adnoc Distribution has completed the purchase of 30 Emarat petrol stations in Sharjah and the northern emirates and is set to buy 24 more by the end of this year, a senior Adnoc official told Gulf News.
According to the agreement signed between Adnoc and Emirates General Petroleum Corporation (Emarat) Adnoc will buy 75 Emarat petrol stations in Sharjah and the northern emirates by the end of 2015.
Khalid Hadi, Vice-President, Marketing and Corporate Communication Division at Adnoc, told Gulf News that Adnoc Distribution had completed the acquisition of 30 Emarat stations so far out of 75 and a fuel depot in Sharjah had also been acquired, along with three service stations in Al Madina, Al Madar and Al Durra.
“All the stations are being fully rebranded with Adnoc signs and identity. The acquisition works include a complete change of inner and outer designs to fit the identity of ‘Adnoc Distribution’. The company is currently also working on changing the internal and external identity of all the remaining stations,” said Hadi.
He added that the fuel depot in Sharjah is set to be completed by mid-2015.
In September last year, Adnoc Distribution signed an acquisition agreement with Emirates General Petroleum Corporation Emarat under which it acquired 75 service stations, as well as a fuel depot in Port Khalid in Sharjah.
“The agreement provides Adnoc Distribution with 75 new facilities in each of Sharjah, Ras Al Khaimah, Ajman, Umm Al Quwain and Fujairah. It also ensures their gradual transfer, within the next two years, to the network of Adnoc Distribution service stations through planned stages,” said Hadi.
Out of the 75 stations 31 are in Sharjah, 16 in Ras Al Khaimah, 12 in Fujairah, 10 in Ajman and 6 are in Umm Al Quwain.
A fuel crisis hit Sharjah after dozens of petrol stations owned by Enoc and Eppco closed in 2011.
These stations in Sharjah as well as Ras Al Khaimah, Fujairah, Um Al Quwain and Ajman have remained closed since, with no signs of opening soon.
According to sources Adnoc Distribution is in talks with Enoc to buy these stations as well but the negotiations haven’t been fruitful.
“We are still negotiating regarding the acquisition of the stations in the northern emirates and hopefully we will reach an agreement soon,” the source added.
However, residents claim that the acquisition of Emarat petrol stations doesn’t make any difference to their lives as these stations have been operational.
“What we have been desperately waiting for over the last four years is for the reopening of Enoc, Eppco petrol stations. Authorities should solve this problem soon as the closure of these stations have forced to us to look for alternative sources which are few and far between,” Ahmad Dawood, a Jordanian resident in Al Tawoon where two Enoc petrol stations have closed down.
Enoc officials were not immediately available for comment.