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KPC Garners Exceptional Profits in First Quarter
Kuwait
Petroleum Corporation announced its exceptional profits in the first quarter
of the current fiscal which totalled KD 1.1 billion.
Mr. Ali Al-Hajri-Managing Director Finance and Administrative Affairs said
that profits exceeded accredited budget forecasts by KD 700 million, and was
above the profits made in the same period last year by KD 467 million or 74
percent.
He explained that operational profit stood at KD 871 million, accounting for
79 percent of net profit. The remaining amount of the net profit, KD 230
million or 21 percent, represents the investment revenue.
Al-Hajri noted that the operational profit was resultant from KPC's
activities in the production of crude oil, gas, liquefied gas, petroleum
products and petrochemicals.
Moreover, he said that KPC was the mother corporation for many companies in
the country and abroad, employing 14,940 people of which 78.5 percent were
Kuwaiti nationals.
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