VOL. XLI

No. 10

9-March-1998

KUWAIT

Kuwait's IPG Announces Net Profits Of $20.4Mn In 1997

The private Kuwaiti oil company, Independent Petroleum Group S.A.K. (IPG) has announcednet profits for 1997 of KD6,223,152 ($20.41mn at the annual average exchange rate of1KD=$3.28) as compared to a loss of KD2,677,446 ($8.78mn) in the previous year, accordingto the company's audited financial statements, which have just been released. Thesuccessful turnaround of the company's financial standing is...