Financial and Banking News
Apicorp Records Increased Profits
Dhahran-based Arab Petroleum Investments Corporation (Apicorp) has declarednet profits of $16.4mn for 1992, up from $10.7mn in 1991. The corporation, whichis owned by the 10 member governments of the Organization of Arab PetroleumExporting Countries (OAPEC), had operating profits of $31.4mn, and madeprovisions of $15mn.
Total assets at the end of the year were $1,171mn. Net loans, representingthe...