VOL. XXXIII

NO. 23

12-MARCH-1990

Kuwait

KNPC's Net Profits Rise by 10% to $290mn in FY 1988/89

The Kuwait National Petroleum Company (KNPC) - a subsidiary of thestate-owned Kuwait Petroleum Corporation (KPC) - registered net profits ofKD83.2mn ($290.4mn at the average rate of exchange for 1 July 1988-30 June 1989of KD1.000=$3.4898), representing a 10.1% increase over the previous year'sprofits of KD75.59mn ($263.8mn), according to a statement by KNPC's Financial Manager, Mr. 'Abd al-Majid...