Dubai – Mubasher: Emirates National Oil Company (ENOC) on Tuesday denied reports regarding its plan to float the shares of its distribution unit.

The company’s financial performance is flexible enough with all changes in the prices of oil and gas, which reflected in its ability to secure funds from various sources, ENOC stated, according to Al-Bayan newspaper.

Bloomberg reported earlier that ENOC was discussing a planned initial public offering (IPO) of its distribution unit with banking advisors.