Emirates National Oil Co (Enoc) has said it is seeking to overcome its losses from fuel subsidies with plans to expand into foreign markets, The National has reported. “We are subsidising the public with regards to fuel so we need to have other incomes,” said Burhan Al Hashemi, the managing director of retail at Enoc. The UAE fuel retailer is already opening petrol stations in Saudi Arabia and is considering moving into Morocco either by acquiring existing companies or constructing its own stations. “Our strategy is to expand in new markets, especially Saudi and maybe Kuwait and Morocco at the moment,” said Al Hashemi.
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