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Arab Oil Producers' Lender Targets $1 Billion for Energy in 2019

  • Apicorp plans to diversify investments outside the Gulf: CEO
  • Investment company will finance projects using bonds and sukuk
Crude Oil Shipments In The Persian Gulf
Photographer: Ali Mohammadi/Bloomberg

Arab Petroleum Investments Corp. plans to invest almost $1 billion in energy projects this year, boosting its assets even as oil prices falter.

New investments will diversify the portfolio away from the oil-rich Persian Gulf and into Iraq, Libya, Egypt, Morocco and the U.S., said Ahmed Ali Attiga, chief executive officer of the multilateral investment company known as Apicorp.