The agreement to create the AMPTC was signed on May 6, 1972. The company`s activities have been defined as all operations related to the shipping of hydrocarbons. For more information, visit the company`s website: www.apicorp-arabia.com The agreement creating ASRY was signed in Kuwait in 1973. The company was officially founded in Bahrain with Bahrain, Iraq, Kuwait, Libya, Qatar, Saudi Arabia and the United Arab Emirates. The creation of ASRY was announced in December 1974 with an authorized capital of $100 million… The agreement to create this company was signed in 1975. APSCO was founded in January 1977 in Tripoli, Libya, with all OAPEC member countries as shareholders… The Organization of Arab Petroleum Exporting Countries (OAPEC) is a regional intergovernmental organization created by an agreement signed on 9 January 1968 in Beirut by Kuwait, Libya (then kingdom of Libya) and the Kingdom of Saudi Arabia. The three founding members elected the State of Kuwait for the home and seat of the organizations.
APICORP`s financial stability was confirmed by Moody`s on 1 October 2010 by assigning an A1 rating to its main priority borrowing obligations denominated in the Saudi riyal. . APICORP`s main objective is to support the financing of projects related to the oil industry. The reason for its creation is the considerable financial need for oil projects. The Company has participated in twelve joint projects in Bahrain, Egypt, Iraq, Jordan, Libya, Saudi Arabia and Tunisia. Recognizing Petroleum`s role as the primary source of revenue and income for its members, OAPEC is responsible for the development and prosperity of the global oil industry by fostering close and fruitful cooperation among its members. The Corporation is headquartered in Al-Khobar/Dammam, in the eastern province of Saudi Arabia. APICORP also operates a bank branch in Manama, Bahrain. APICORP is one of five organizations created by OAPEC to promote cooperation and economic integration in the Arab hydrocarbon and petrochemical industry. It supports sectors across the sector, including derivative or complementary industry projects. Since its inception, APICORP has made an important contribution to the development of the region`s energy economy.
