H. H. Dr Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council member and Ruler of Sharjah, has issued emiri decree no 52 of 2010 establishing the Sharjah National Oil Corporation (SNOC).
The new state-owned oil entity shall have a corporate character and full-fledged competence in discharging necessary legal actions to carry out its businesses towards realisation of the aspired goals for which it was set for. The corporation shall enjoy financial and administrative independence and practice its operations on commercial bases. With its headquarters in Sharjah, the company may open branches inside or outside the emirate of Sharjah.
The decree defines the functions of the corporation in the following specialistions of exploration, discovery, extraction, engineering operations and construction, maintenance, training, transportation , distribution, refining, storage, buying, selling, swapping, production, reception and delivery of hydrocarbon products. The company may also invest in firms and facilities having the similar objectives.
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