2000 News Story

APICORP holds board meeting in Cairo

The Board of Directors of the Arab Petroleum Investment Corporation (APICORP), an affiliate of the

Organization of Arab Petroleum Exporting Countries (OAPEC), held its fourth meeting this year in Cairo on

October 11 and 12. Financial statements indicate the net income in the first nine months of 2000 as $33.2

million, representing a 44 percent increase over the figures for last year. APICORP is a contributor to the

financing of 11 joint Arab projects in the fields of basic petrochemicals, liquefied petroleum gas, oil-well

drilling, and chemical fertilizers in Saudi Arabia, Bahrain, Libya, Iraq, Egypt, Tunisia and Jordan.