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FINANCIAL NEWS
Abu Dhabi- IPIC reports USD1.74b profit in 2012
07 May 2013
(MENAFN) Abu Dhabi’s International Petroleum Investment Co (IPIC) announced that its 2012 net profit grew to USD1.74 billion, compared with USD44.66 million a year earlier, reported Arabian Business.
The company added that consolidated revenue reached USD51.88 billion, up from 2011’s USD34.29 billion.
Furthermore, operating profit increased from USD2.50 billion, reaching USD3.18 billion, while assets dipped to USD65.1 billion from USD65.3 billion.
It is worth noting that the government-owned investment vehicle has interests in several European-based firms; including Spain’s CEPSA and Austrian oil group OMV.
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