Ten Arab Petroleum Ministers attend annual Apicorp board meeting

The annual board meeting of the Arab Petroleum Investment Corporation (APICORP), an offshoot of the Organization of Arab Petroleum Exporting Countries (OAPEC), founded in 1975, will kick off Wednesday.

Egypt's Minister of Petroleum Sameh Fahmy and Syrian Minister of Oil and Mineral Wealth Ibrahim Haddad will take part in the meeting.

The meeting is to discuss the periodical reports that include activities to finance the new gas and petrochemical projects in the Arab states and endorse the final accounts of the corporation for the fiscal year (FY) 2001-2002.

The corporation participates in the finance and investment activities held in Egypt, Iraq, Syria, Libya, Algeria, Bahrain, Qatar, Kuwait and Saudi Arabia and contributed with major world and regional banks and institutions to finance projects in the fields of oil and gas industries.