IPC Today
IPC has ceased operations, but the company "Iraq Petroleum Company" still remains extant as a name on paper, and one of its surviving associated companies - Abu Dhabi Petroleum Company (ADPC), formerly Petroleum Development (Trucial Coast) Ltd - also continues with the original shareholding intact. ADPC still holds 40% of the onshore concession in Abu Dhabi, with the majority 60% held by the Abu Dhabi National Oil Company (ADNOC) on behalf of the Abu Dhabi Government. Operations are carried out by the local operating company - The Abu Dhabi Company for Onshore Oil Operations (ADCO) - jointly owned by ADNOC, and the ADPC shareholders : BP, Royal Dutch Shell, ExxonMobil, Total S.A. and Partex; reflecting the historical make-up of the Iraq Petroleum Company. The current Abu Dhabi onshore oil concession is due to expire in January 2014.
Read more about this topic: Iraq Petroleum Company
Famous quotes containing the word today:
“I remember a very important lesson that my father gave me when I was twelve or thirteen. He said, “You know, today I welded a perfect seam and I signed my name to it.” And I said, “But, Daddy, no one’s going to see it!” And he said, “Yeah, but I know it’s there.” So when I was working in kitchens, I did good work.”
—Toni Morrison (b. 1931)