International Petroleum Investment Company

The International Petroleum Investment Company, IPIC is a short state-owned companies of the United Arab Emirates, based in Abu Dhabi.

The company was founded in 1984 with a portfolio of one billion U.S. dollars. It is responsible for all foreign investment in the Emirates in the oil and chemical industry. Controlled it is by the Supreme Petroleum Council of Abu Dhabi, which monitors all operations of the country concerned, the petroleum industry. Meanwhile, the company's market value has risen to an estimated five billion U.S. dollars.

The company's investments are mostly long-term.

Investments

IPIC is among other things a partner in the company

• Aabar Investments PJS, United Arab Emirates (71% ) (since 23 March 2009)
• Hyundai Oilbank Company, South Korea (70 %)
• Borealis, Austria (65%, residual OMV AG)
• Cepsa Maghreb, Morocco ( 50%)
• Gulf Energy Maritime PJSC, the United Arab Emirates ( 30%)
• Pak Arab Refinery, Pakistan
• Compañía Española de Petróleos SA ( Cepsa ), Spain ( 9.5%)
• OMV AG, Austria (20%)
• NOVA Chemicals, Canada
• Abu Dhabi Petroleum Investments Holding, United Arab Emirates ( 75%)
• Ferrostaal AG, Germany ( 70% )

Development

IPIC sovereign wealth fund has early October 2008, given an injection of 3.5 billion pounds to Barclays Bank that can convert them now in an equity share of 16.3 percent.

Abu Dhabi sovereign wealth fund

Other sovereign wealth funds in Abu Dhabi are:

• Abu Dhabi Investment Authority ( ADIA )
• Mubadala Development Company (MDC )