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PART TWO
OAPEC Activities in 2012
In an endeavor to upgrade performance of the employees in the technical
and administrative areas, the company engaged its staff in vocational
programs to increase their professional efficiency. About 51% of the
planned staff up to mid 2012 participated in the development programs.
Upon completion of the study for upgrading the aromatics line, which
was conducted by GTC-Technology, the company seeks to accomplish
the engineering works and purchasing of equipment and materials, as
well as installations, via agreement with an alliance of contractors for
implementation. A study was conducted to upgrade Paraffin and Alkyl
lines to increase the production capacity to 72,000 tons/lab with Mei Yang
Engineering, which also upgraded the Paraffin and Lab production lines
for SINOPEC of China.
Financial Results for the First Half of 2012
Financial statements for the first half of 2012 show a total profit of
US$6.4million. By adding the other revenues and, net of general expenses,
the company’s net profit for the period is about US$2.3million.
Manpower and Training in the First Half of 2012
The company sought to develop the performance of its employees in the
technical and administrative areas by engaging them in qualifying programs
to increase their professional efficiency. About 45% of the planned staff up
to mid 2012 participated in the development programs. The company has
342 employees, including 297 Iraqis and one Arab.
