JEDDAH, 3 October 2005 — The board of directors of Arab Petroleum Investments Corporation (APICORP), an affiliate of the Organization of Arab Petroleum Exporting Countries, reviewed reports on the corporation’s finance and investment activities as well as financial statements for the period from January to August at its third meeting of the year held in Cairo on Saturday. Ahmad ibn Hamad Al-Nuaimi, chief executive and general manager of APICORP, attended the meeting, chaired by Abdullah Al-Zaid, representative of the Kingdom. Al-Nuaimi said the investment portfolio had achieved an exceptional return equivalent to 78.6 percent of the net income as a result of the selling of APICORP’s share in the Egyptian Fertilizers Company, in pursuit of exercising the corporation’s strategy that aims toward the revolving and reinvesting in newly developed oil and gas projects in the member states and other Arab countries.
