SUBSIDIARY COMPANY  - D&K Holdings (L.L.C) – UAE: (IPG Share 100%)
During 2008, IPG acquired all Emirate National Oil Company (ENOC) shares in D&KH, which amounts to 50% and became the sole owner of the company and the 3 petroleum product vessels that are owned and operated by D&KH and fully utilized by IPG. Discussions concerning the sale of some shares of D&KH were also initiated and continue with local and international entities that could bring an added value to D&KH business and operations.   Based on in-house market researches and a study by a specialized consultant, a long term vessels acquisition program was developed indicating the addition of 8 petroleum product vessels to the existing D&KH fleet over the next five years. The D&KH fleet will provide IPG- Marketing with the required controlled tonnage coverage.

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