UAE: Ipic allocates $10b for global investments
(MENAFN) The Managing Director at Abu Dhabi-based International Petroleum Investment Company (Ipic) said that the company has agreed to raise its investments to $10 billion in the oil and gas industry worldwide, Gulf News reported.
The managing director clarified that the new rise is in lien with Ipic's plans for regional and international acquisitions of oil companies, in addition to investing in new areas such as liquefied natural gas (LNG).
The company has several ongoing projects such as the Khalifa Point refinery in Pakistan, extending the Abu Dhabi-Habshan-Fujairah pipeline, which is a $1 billion construction project and a $1.36 billion extension of Borouge (Abu Dhabi Polymers).
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