The Arabian Petroleum Investments Corporation (Apicorp)’s General Assembly recently approved a recommendation to distribute $30 million out the company’s 2001 net income as dividends to the governments of investor states, reported Al-Hayat. The company’s net income reached $42.8 million in 2001, up from $40.4 million in 2000.
The Saudi-based Apicorp was founded in 1975. Its issued share capital is $460 million owned by the governments of Bahrain, Algeria, Saudi Arabia, Syria, Iraq, Qatar, Kuwait, Libya and Egypt.
It is an inter-Arab joint stock company that works in accordance with an international agreement approved by the governments of the ten member states of the Organization of Arab Petroleum Exporting Countries (OAPEC). — (menareport.com)
© 2002 Mena Report (www.menareport.com)
