Ipic profits hit as oil prices slide | GulfNews.com:
"International Petroleum Investment Company (Ipic) said its revenue for the year 2014 fell to Dh188 billion compared to Dh194 billion in 2013, a decline of Dh6 billion largely due to fall in crude in oil prices offset by new acquisitions made by the group in 2014.
The Abu Dhabi government-owned company released its full year financial statement for the year 2014, news agency WAM reported late on Tuesday.
The company said its profits for 2014 were down by Dh2.3 billion compared to a year earlier, adding that it made a profit of Dh7.9 billion in 2013, which reduced to Dh5.6 billion in 2014 as a result of the decrease in revenue offset by the exchange gains on Euro denominated financial liabilities."
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