VOL. XLVII

No 21

24-May-2004

KUWAIT

ENERGY FINANCE

KNPC And KPI Report Strong Profits

Kuwait National Petroleum Company (KNPC) on 12 May announced a net profit for 2003 of KD94.5mn ($321mn), more than double the profit for 2002 (KD45mn). We had a very good year, KNPC chairman Hani Husain said, but its mainly due to high prices for products. KNPC operates the countrys three refineries which have total capacity of around 900,000 b/d.

Kuwait Petroleum International (KPCI) recorded a net profit of $70mn...