Enoc Denies Report On Dragon Oil Sale Deal
Posted: 30 May 2005
Dubai-headquartered Emirates National Oil Company Ltd (ENOC) LLC has totally refuted a Russian media report that it is in talks with oil giant LUKOIL to sell any of its holding in Dragon Oil Plc, the Irish independent oil and gas exploration and production company listed on both the London and Dublin stock exchanges in which ENOC holds an equity majority of 52%.
 The wholly-owned Government of Dubai ENOC Group has also confirmed that it does not have a representative named Mr Kumar I. , who is reported in the Russian daily Vedomosti as disclosing an alleged deal between ENOC and LUKOIL.
"There is absolutely no truth in the report," said Hussain Sultan, Group Chief Executive and Board Member of ENOC. "Emirates National Oil Company remains the majority shareholder in Dragon Oil Plc and has not divested any part of its equity and is not in talks with LUKOIL to sell its shares in Dragon Oil Plc."
Posted by Editor Pipeline Magazine
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