The handover process of 74 petrol stations by Emarat to Adnoc Distribution in the Northern Emirates has begun, a highly-placed oil industry source familiar with the developments told Gulf News yesterday.
“The takeover process by Adnoc Distribution has begun. As per plan, over the next few months, Adnoc Distribution and Emarat will jointly operate the pumps and from January 2013, Adnoc Distribution will take over full management control of the petrol stations,” said the source.
Adnoc Distribution is a unit of the Abu Dhabi National Oil Company (Adnoc). Last month, Adnoc and Emarat announced the signing of a memorandum of understanding (MoU) through which Adnoc’s unit will take over the running of 74 petrol stations operated by Emarat in Sharjah, Ras Al Khaimah, Ajman, Umm Al Quwain and Fujairah.
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