Abu Dhabi's International Petroleum Investment Co (IPIC) saw its first-half profit nearly triple as the energy-focused investment vehicle posted gains on its financial investments, an updated bond prospectus showed.
IPIC, which has stakes in Spain's Cepsa and Austrian oil group OMV , posted a $424 million gain on financial instruments, compared with a loss of $1.1 billion for the year-ago period, boosting profit after tax to $1.16 billion from $413 million a year ago.
Revenue rose 17 percent to $8.63 billion.
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