Arab Petroleum Investments Corporation (Apicorp) has reported a record profit for the period from January to November 2005.

Apicorp general manager and chief executive Ahmad bin Hamad Al Nuaimi said the 168 per cent jump in profits from last year's figures came mostly from the capital gains achieved from selling Apicorp’s equity share in the Egyptian Fertilizers Company.
The announcement came as Apicorp’s board of directors held its fourth meeting for 2005.
The meeting in Bahrain was chaired by Abdullah Al Zaid, representative of Saudi Arabia.