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Sultan issues decree restructuring Sharjah National Oil Corporation

Sharjah: His Highness Dr Shaikh Sultan Bin Mohammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, has issued Emiri Decree No 23 of year 2014, on the restructuring of the Sharjah National Oil Corporation (SNOC).

The decree stipulates the merging of Sharjah Liquefaction Gas Company (Shalco), and the Sharjah Oil Company into one corporation called the Sharjah National Oil Corporation. It shall have legal personality and enjoy the full capacity to take necessary legal actions to ensure the achievement of the purposes for which it was established.

The SNOC will enjoy financial and administrative autonomy and operate on a commercial basis. It is owned by the government under supervision of the Sharjah Oil Council. The headquarters of the SNOC will be in Sharjah City and branches will be established inside and outside the emirate.