Monday, 30 April 2012

Dubai petrol subsidies in the billions - The National

Dubai has spent billions to ensure that its motorists can fill their tanks cheaply, official documents show.

Federal legislation mandates that Emirates National Oil Company (Enoc), which is owned by the Dubai Government, and its subsidiary Emirates Petroleum Products Company (Eppco) sell petrol at subsidised prices.

As a result, the companies are losing money on petroleum sales, forcing the Government of Dubai to make up the difference.

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