APICORP uses Libya as Gateway to Africa

In an interview with Al-Arabiya TV, the CEO of Arab Petroleum Investments Corporation (APICORP), Ahmad bin Hamad Al-Nuaimi (pictured), said the company plans to increase its share of the Libyan market, with a view to expanding from there into the African continent.

He said APICORP, the Multilateral Development Bank of the Organisation of Arab Petroleum Exporting Countries (OAPEC), already has shares in two companies in Libya.

Credit rating agency Moody’s recently upgraded its issuer and senior unsecured rating from A1 to Aa3, while maintaining a stable outlook. The government of Saudi Arabia owns a 17 percent stake in APICORP.

(Sources: LibyaBusinessTV, Arab News)

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