The Organization of arab Petroleum Exporting Countries (PAAPEC) is a regional intergovernmental organization created by an agreement signed on January 9, 1968 in Beirut by Kuwait, Libya (then Kingdom of Libya) and the Kingdom of Saudi Arabia. The three founding members chose the State of Kuwait as the headquarters and headquarters of the organizations The agreement for the establishment of this company was signed in 1975. APSCO was founded in January 1977 in Tripoli, Libya, with all OAPEC member countries as shareholders. The agreement establishing ASRY was signed in Kuwait in 1973. The company was officially founded in Bahrain with the following countries as shareholders: 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. For more information, visit the company`s website: www.apicorp-arabia.com The agreement to create AMPTC was signed on May 6, 1972. The company`s activities have been defined to cover all activities related to the maritime transport of hydrocarbons. . October 28, 2020: Moody`s Investors Service has updated its credit information on APICORP, confirming its long-term rating of Aa2 with a stable outlook. . It is inspired by the conviction that it is important to build an integrated oil industry as a cornerstone of future economic integration among Arab countries and contributes to the efficient use of member States` resources by encouraging joint ventures.
. 6. September 2013: Moody`s Investors Service confirms Aa3`s currency issuers` rating for long-term bonds and maintains Prime-1 for short-term debt with a stable outlook. . . . October 10, 2019: Moody`s Investor Service confirmed apicorp`s long-term rating and senior unsecured on Aa2, with a stable outlook and a short-term issuer rating with Prime-1. APICORP is one of five organizations established by OAPEC to promote cooperation and economic integration in the Arab hydrocarbon and petrochemical industry.
It supports sectors across the sector, including projects that are derived from or complementary to the sector. Since its creation, APICORP has made a major contribution to the development of the region`s energy economy. He has taken stakes in 22 oil and gas joint venture projects worth more than $13 billion and has participated in direct and syndicated energy financing transactions worth more than $126 billion. APICORP`s total liabilities in these transactions, including equity and external capital, are valued at more than $11 billion. She also provided advisory and treasury services related to project financing and development; and published very prestigious macroeconomic research. These domains continue to define APICORP in today`s market. . APICORP`s financial stability was confirmed by Moody`s on October 1, 2010, when moody`s issued an A1 credit rating to its priority non-covered bonds denominated in the Saudi Riyal. . 22. June 2020: Fitch evaluates Arab Petroleum Investments Corporation with a long-term defaultfault (IDR) rating of “AA” with a stable outlook and a short-term IDR of “F1+”.
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