VOL. XXXII

NO. 42

24-JULY-1989

OAPEC

Arab Engineering Company Liquidated

An Extraordinary General Assembly meeting of the OAPEC-sponsored ArabEngineering Company (AREC), which was held in Abu Dhabi on 23 April, decided todissolve the company and place it under voluntary liquidation, according to theOAPEC Monthly Bulletin.

The Abu Dhabi-based AREC was established by OAPEC in March 1981 and wascapitalized at $12.765mn, fully paid-up. Seven of OAPEC's national oil companies- ADNOC, KPC, LNOC,...