  the international petroleum investment company (ipic) was established by the government of abu dhabi pursuant to an emiri decree in 1984 with a mandate to invest globally in energy and energy related industries. the government owns 100 per cent of ipic and appoints all the members of its board of directors. over its history, ipic has been supported by equity contributions from the government of abu dhabi. the chairman of ipic's board of directors is sheikh mansour bin zayed al nahyan, a member of the ruling family of abu dhabi, the deputy prime minister of the united arab emirates (uae) and the uae minister of presidential affairs. the managing director of ipic is khadem abdulla al qubaisi. ipic is a long term strategic investor and it holds more than 14 investments in over 10 countries and on five different continents. its investment portfolio includes: * two wholly owned operating companies, being nova chemicals, a leading north american plastics and chemicals company based in canada, and cepsa, a leading spanish integrated oil and petrochemicals company; * two majority owned operating companies, being borealis, one of the world's largest polyolefin producers and aabar, a diversified investment company; and * minority stakes in cosmo oil, a leading japanese refining and marketing company and omv, a leading austrian integrated oil and gas company with a presence throughout central and eastern europe. in addition, ipic is undertaking the following strategic projects: *the multi billion dollar chemaweyaat project at madeenat chemaweyaat al gharbia, which is expected to comprise a series of world class petrochemicals complexes with access to abu dhabi's gas and liquid petroleum feedstocks. the first phase of this project is expected to be completed in 2015 and it is expected to be the world's largest sin
Government-owned_companies_of_the_United_Arab_Emirates Oil_and_gas_companies_of_the_United_Arab_Emirates