VOL. XXXV
NO. 32
11-MAY-1992
OAPEC
AMPTC Reduces Capital to Offset Accumulated Losses
The OAPEC-sponsored Arab Maritime Petroleum Transport Company (AMPTC) -which is jointly-owned by Libya, Kuwait, Bahrain, Saudi Arabia, Iraq, Qatar, theUAE, Algeria and Egypt - decided in 1990 to write down its authorized capitalof $500mn to $200mn in order to offset $300mn of the total accumulated losses of$364.9mn registered at end-1989. According to the company's 1990 Annual Report,which has recently been...
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