VOL. XLIII
No. 44
30-OCTOBER-2000
KUWAIT
KUFPECs Net Profit Rises By 49% In 1999
In 1999 the Kuwait Foreign Petroleum Exploration Company (KUFPEC) a wholly-owned subsidiary of the state-owned Kuwait Petroleum Corporation (KPC) posted a 49.2% increase in its net profit after taxation to KD22.4mn ($73.8mn at the yearly average exchange rate of 1KD=$3.28) from KD15mn ($49.2mn) in the previous year. According to the companys Annual Report, the value of KUFPECs crude oil sales rose by 21.5% in 1999...
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