Abu Dhabi National Oil Company (Adnoc) plans to open service stations in Saudi Arabia as early as next year.
“We have ambitious plans to be outside the boundaries of the UAE. The first country we are eyeing and watching is Saudi Arabia,” Abdulla Salem Al Dhaheri, the chief executive of Adnoc Distribution, Adnoc’s fuel retailing arm, said yesterday.
“We are in the final stage of finalising the contractual obligation with one of the operators in Saudi Arabia. Hopefully you will see us operational by mid-2014,” Mr Al Dhaheri said.
The price of petrol is subsidised in the UAE, and petroleum companies are looking to generate better profit margins from other businesses such as retail, and food and beverage.
Mr Al Dhaheri said the kingdom wanted to upgrade its service stations, with 15 licences for 15 different operators up for grabs.
He said Adnoc Distribution was also looking at opportunities in Iraq, Libya and North Africa because of the demand.
“We are talking to the Gulf and beyond,” said Mr Dhaheri. “They are building up their facilities. They are expanding. They are introducing new services for consumers.”
Adnoc would be opening 10 new service stations in Dubai next year, Mr Al Dhaheri said.
“We are about to finalise six out of 10 service stations. They will be on all major highways,” he said.
On the topic of jet fuel prices, Mr Al Dhaheri said despite UAE carriers’ recent massive orders for aircraft, the profit margin for the domestic jet fuel market was minimal.
At the Dubai Airshow on Sunday, Emirates Airline ordered US$99 billion worth of airplanes, while its sister carrier flydubai made a $11.4bn order. Etihad Airways placed aircraft orders worth more than $67bn.
“I believe that profitability will always be squeezed within the local market,” Mr Al Dhaheri said.
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Stamp duty timeline
December 2014: Former UK finance minister George Osbourne reforms stamp duty, replacing the slab system with a blended rate scheme, with the top rate increasing to 12 per cent from 10 per cent:
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Company%20Profile
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Stamp%20duty%20timeline
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Pox that threatens the Middle East's native species
Camelpox
Caused by a virus related to the one that causes human smallpox, camelpox typically causes fever, swelling of lymph nodes and skin lesions in camels aged over three, but the animal usually recovers after a month or so. Younger animals may develop a more acute form that causes internal lesions and diarrhoea, and is often fatal, especially when secondary infections result. It is found across the Middle East as well as in parts of Asia, Africa, Russia and India.
Falconpox
Falconpox can cause a variety of types of lesions, which can affect, for example, the eyelids, feet and the areas above and below the beak. It is a problem among captive falcons and is one of many types of avian pox or avipox diseases that together affect dozens of bird species across the world. Among the other forms are pigeonpox, turkeypox, starlingpox and canarypox. Avipox viruses are spread by mosquitoes and direct bird-to-bird contact.
Houbarapox
Houbarapox is, like falconpox, one of the many forms of avipox diseases. It exists in various forms, with a type that causes skin lesions being least likely to result in death. Other forms cause more severe lesions, including internal lesions, and are more likely to kill the bird, often because secondary infections develop. This summer the CVRL reported an outbreak of pox in houbaras after rains in spring led to an increase in mosquito numbers.
