Dubai-owned Emirates National OilCo. (Enoc) says it is set to lose 2.7 billiondirhams ($735 million) this year becauseof a countrywide restriction on increasingfuel prices at the pump.The rare public statement helps explainmonths of shortages, as well as the closingof retail stations in the country’s pooreremirates, which it had earlier blamed onmaintenance issues (IOD Jun.10’11).
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