Emirates National Oil Company (ENOC) (UAE)





According to The Telegraph, ENOC owns 52 percent of Dragon Oil which has strong business ties to Iran, especially through the Naftiran Company Ltd. (NICO), a subsidiary of the National Iranian Oil Company (NIOC) (The Telegraph, November 2, 2009).

Date: 2010

Deal: According to the U.S Government Accountability Office, Emirates National Oil Company sold gasoline to Iran in 2010 (U.S. Government Accountability Office, September 3, 2010).

Date: 2011 – 2012

Deal: According to the Energy Tribune, ENOC was “the biggest buyer of Iranian condensate in 2012 when its imports rose to an average of 127,000 bpd, up from 106,000 bpd in 2011, despite US pressure to stop the trade” (The Energy Tribune, January 28, 2013).

Date: 2013

Deal: According to Bloomberg, ENOC is increasing its imports of condensate from Qatar to replace sanctioned Iranian oil and it has been negotiating deals with other producers in the Middle East and Asia. (Bloomberg, January 28, 2013)

Date: April 2013

According to Reuters in April 2013, ENOC “continues to process tens of thousands of barrels a day” of Iranian condensate despite efforts to find alternate suppliers of condensate. Most of the flights leaving from Dubai airport are fueled with the refined product produced by ENOC. Even some U.S. planes may be running off Iranian oil since the U.S. does not consider Iranian oil that passes through a refinery outside Iran under sanctions. ENOC is the largest supplier of jet fuel for Dubai International Airport. One of the airport’s customers is the U.S. Defense Logistics Agency which is responsible for providing planes for U.S. allied forces in the Middle East (Reuters, April 23, 2013).

Ties with U.S. Business:

According to the U.S. Government Accountability Office, ENOC has received U.S. government contracts in 2009 with the Department of Defense worth $235,067 for the lease of fuel storage buildings (U.S. Government Accountability Office, September 3, 2010).

According to Reuters, ENOC’s contract with the U.S. military was not renewed in September 2013 due to cheaper bids from other suppliers (Reuters, September 1, 2013).

Last Updated: July 8, 2014