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Latest items posted in IPIC

  • ein

    IPIC prepays $3.75bn in loan facilities

    The Company has previously utilized the capital markets as one of the many means to enhance its maturity profile and its recent exercise included three unique tranches: a 5.5Yr 3.75% $1.5bn due in 2017, a …

    Read full article » United Arab Emirates: Wednesday, November 23 - 2011 @ 13:01
  • ein

    IPIC posts Dhs6.4bn profit for 2012

    Total comprehensive income reached Dhs6.0bn ($1.62bn) for 2012, an increase of Dhs15.3bn ($4.17bn) from the previous year.

    Consolidated revenue increased from Dhs126.0bn ($34.3bn) to Dhs190.6bn ($51.9bn) in 2012 while operating profit increased from Dhs9.2bn ($2.51bn) to …

    Read full article » United Arab Emirates: Saturday, May 18 - 2013 @ 12:40
  • ein

    IPIC partners with Restis Group

    The non-binding Memorandum of Understanding (MOU) signed on February 23, 2009 between the two companies envisages joint co-operation in a number of areas, including storage, ship-building, pipelines and ports. It is anticipated that opportunities determined …

    Read full article » United Arab Emirates: Saturday, February 28 - 2009 @ 09:31
  • ein

    IPIC hosts the first Board of Directors meeting of Duqm Refinery and Petrochemical Industries Company in Abu Dhabi

    Mr. Ahmed Al Wahaibi, CEO of OOC, was appointed as Chairman while Mr. Khadem Al Qubaisi, Managing Director of IPIC, was chosen as Vice Chairman of the Board of Directors.

    Other announcements include that Mr. …

    Read full article » United Arab Emirates: Sunday, August 05 - 2012 @ 16:44
  • ein

    IPIC completes $5.0bn fund raising

    The Bank of Tokyo-Mitsubishi UFJ, Ltd., HSBC Bank Middle East Limited and Banco Santander, S.A. were appointed as Coordinators to jointly arrange syndicated term loan facilities (the Facilities) principally to support the following financing requirements: …

    Read full article » United Arab Emirates: Thursday, July 02 - 2009 @ 13:18
  • ein

    IPIC closes its inaugural bond issuance

    IPIC raised a total of $2.5bn through two issuances, a five year issuance for $1.0bn and a ten year for $1.5bn. IPIC, rated Aa3, AA, and AA (by Moody’s, S&P and Fitch respectively) and which …

    Read full article » United Arab Emirates: Thursday, November 18 - 2010 @ 11:40
  • ein

    IPIC announces financial results for the period ended 31st December 2012

    IPIC’s consolidated revenues were $51.90bn, an increase of 51.3% compared to the same period in 2011. Consolidated assets remained relatively unchanged at $65.16bn, while consolidated liabilities reduced to $49.60bn from $51.04bn the previous year.

    Consolidated …

    Read full article » United Arab Emirates: Wednesday, May 15 - 2013 @ 10:34
  • ipic

    IPIC announces Emirati workforce plans

    International Petroleum Investment Company (IPIC) plans to triple its Emirati workforce over the next three years, a senior executive announced.

    Mohamed Abdulla Al Suwaidi, Director Business Support Department, said the aim is to take on 500 …

    Read full article » : Monday, February 10 - 2014 @ 07:04
  • ein

    IPIC announces $44.7m net profit for 2011

    Strong performance from operating subsidiaries and consolidation of new acquisitions saw revenues grow to $34.3bn, a 164% increase from the prior year.

    Profit from continuing operations increased from $118.4m to $540.6m in 2011, representing an increase …

    Read full article » United Arab Emirates: Wednesday, June 13 - 2012 @ 15:38
  • ein

    IPIC and Nova Chemicals announce friendly all-cash acquisition of Nova Chemicals

    The acquisition will be implemented by way of a court approved plan of arrangement under the Canada Business Corporations Act (the “Arrangement”).

    The consideration per Share represents a 348% premium over the February 20, 2009 closing …

    Read full article » United Arab Emirates: Tuesday, February 24 - 2009 @ 09:56

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