VOL. XLII

No. 34

23-August-1999

KUWAIT

Kuwait Increases Domestic Petroleum Product Prices

The Kuwait National Petroleum Company (KNPC) increasedprices for all domestic petroleum products on 12 August. The measure wasundertaken in order to boost government revenues in the light of low crude oilprices in 1998 and the early months of 1999. Annual domestic revenues frompetroleum products are expected to rise to KD128.7mn ($422mn) from the currentKD92.6mn ($303.7mn) if consumption continues at the...