Dubai – Mubasher: Emirates National Oil Company (ENOC) is not currently considering listing in a bourse, its CEO stressed in an interview on Tuesday.

Speaking to CNBC Arabia, Saif Humaid Al Falasi revealed that his company had allocated AED 1 billion ($270 million) to building several stations in the coming five years.

So far, ENOC has completed the construction of 13 stations in Dubai during 2017 and 2018, the top official went on, indicating that ENOC’s strategy entails building 25 stations in Sharjah in the coming four years.

In 2016, ENOC also said it was not planning to list on a bourse, noting that it had registered a strong financial performance at a time when oil prices were down and the oil and gas sector was witnessing problems.

Earlier on Tuesday, ENOC announced completing its first fully solar-powered lubricants plant at a capacity of 160,000 kwh/year of electricity.

This production capacity should suffice the new plant’s needs, ENOC said, noting that any excess electricity would be transmitted back to the Dubai Electricity and Water Authority’s (DEWA) grid.