UAE’s ENOC to launch Egypt-based facility to produce lubricating oil

INVESTMENT WATCH- UAE oil company ENOC has signed a JV agreement with Proserv Egypt to set up ENOC Misr, its first Egypt-based facility to produce high-tier lubricants, Al Mal reports. The JV will market and distribute ENOC lubricants in Egypt. ENOC signed last year an agreement with EGPC to market and distribute jet fuel here. “Investing in Egypt’s market, the third largest in Africa, complements our business strategy to go beyond the UAE and our commitment to industry-leading performance,” ENOC Group CEO Saif Al Falasi said last February.