Middle East Economic Survey

VOL. LIV

No 43

24-Oct-2011

UAE

Abu Dhabis IPIC Posts Strong 1H11 Results, Eyes $6.5Bn Gulf Refinery Investment

Abu Dhabis International Petroleum Investment Company (IPIC) saw profits for the first half of 2011 nearly triple as the government-backed investor posted significant gains on its financial investments, an updated bond prospectus showed on 18 October. IPIC said it had managed to generate a gain of $424mn on financial instruments relative to the $1.1bn...