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Dubai: Enoc emerges as ‘integrated’ player with Dragon deal

Emirates National Oil Company (Enoc) completed its $1.5bn dirham/dollar-denominated debt facility on 17 June – which was oversubscribed by a syndicate of local, regional and international banks – and is poised to complete its full takeover of London and Irish Stock Exchange-listed Dragon Oil. Downstream-focused Enoc said in a statement that the Dragon purchase was a “key step” towards its ambition of “creating an international integrated oil and gas company”.

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