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.
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“We do not know today whether we are busy or idle. In times when we thought ourselves indolent, we have afterwards discovered, that much was accomplished, and much was begun in us.”
—Ralph Waldo Emerson (1803–1882)