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Article: Abu Dhabi's Overseas Investments.
- Article from:
- APS Review Downstream Trends
- Article date:
- January 15, 2007
CopyrightCOPYRIGHT 2007 Input Solutions. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The International Petroleum Investment Company (IPIC) of Abu Dhabi, now an important player on the market, has a major share of Europe's second biggest producer of polyolefins (raw materials for production of plastic) and in Austria's largest industrial group. It has spread its investments in the oil markets of the Far East, Europe and North Africa.
By far the wealthiest state in the Persian Gulf in per capita terms, Abu Dhabi has more than $300 billion worth of investments outside the emirate. Thanks to high oil and gas export prices since March 1999, this emirate has more cash reserves and overseas assets than Kuwait and Saudi Arabia put together. Abu Dhabi's ...