Industry News

Abu Dhabi Government Merges IPIC and Mubadala Investment Funds

Merger of IPIC and Mubadala creates Mubadala Investment Company, a USD125 billion fund

UAE: International Petroleum Investment Company (IPIC), an Abu Dhabi based sovereign wealth fund, has completed the merger with the wealth fund company of the UAE, Mubadala Development Company. This merger has led to the formation of Mubadala Investment Co., which would retain corporate stakes in four platforms namely, petroleum & petrochemicals; technology, manufacturing & mining; aerospace, information & communications technology & renewables and alternative investments & infrastructure. The new entity would have assets worth around USD125 billion and debt of USD42 billion. The merger is due to Mubadala Development not receiving new cash from the UAE government in 2015.

Techsci Research depicts that the merger is strategic decision to create investments across various sectors within United Arab Emirates (UAE) and across the globe. The combination of the two firms would hasten the diversification of economy of Abu Dhabi. This strategy would offset the impact of lower revenues generated by the Middle Easter countries owing to sluggish crude oil prices.

According to the recently published report by TechSci Research, “Iran Oil Refinery Chemicals Market By Type (Merchant Hydrogen, Refining Catalysts, etc.), By Application (Petroleum Conversion, Petroleum Treatment, Water and Wastewater Treatment and Others), Competition Forecast and Opportunities, 2011 – 2021”, the oil refinery chemicals market in Iran is projected to grow at a CAGR of 5% over the next five years. In 2015, merchant hydrogen held the largest share in the Iran oil refinery chemicals market, owing to growing demand for hydrogen due to its ability to remove undesirable pollutants from crude oil products. Refining catalysts, pH adjusters and corrosion inhibitors are the other major oil refinery chemicals consumed in Iran. In addition to domestic players, several global players such as Air Liquide, Air Products and Chemicals Inc., and Sud Chemie are also operating in Iran oil refinery chemicals market.

 

Relevant Reports

ISO Modal Container Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type (Type-I, Type-II, Type-III and Type-IV), By Application (LNG, Industrial Gases and Chemical & Petrochemicals), By Transport (Ship, Road and Rail), By Region, and By Competition

Oil and Gas | Jun, 2024

Businesses seek to tap into international markets and consumers have access to a wider range of products from around the world is one of the factors driving the Global ISO Modal Container Market in the forecast period 2025-2029.

Relevant News