VOL. XLII

No. 27

5-July-1999

KUWAIT

Kuwait's IPG Posts Net Profit Of $2.98Mn In 1998

The private Kuwait oil company Independent Petroleum GroupSAK (IPG) has announced a net profit for 1998 of KD915,471 ($2.98mn at the 1998average exchange rate of 1KD = $3.26) as compared to KD6,233,152 ($20.28mn) inthe previous year, according to the audited financial statements, which havejust been released. The fall in the companys net profit is mainly attributedto a change in the market value of its...