Middle East Economic Survey

VOL. XLVIII

No 23

6-June-2005

Kuwait

KNPC Profits Surge To $2.1Bn On Strong Refining Margins

State-owned Kuwait National Petroleum Company (KNPC) announced on 28 May that profits for the year to 31 March had increased six fold to $2.1bn from $320mn the previous year due to strong refining margins. The state refiner operates three refineries with a combined capacity of 930,000 b/d. It also operates an LPG plant and all service stations in Kuwait, although the...