No. 39


KUFPEC Registers Record Net Profit Of $57.4Mn In 1997

The Kuwait Foreign Petroleum Exploration Company (KUFPEC) awholly-owned subsidiary of the state-owned Kuwait Petroleum Corporation (KPC) registered in 1997 a record net profit of KD17.9mn ($57.4mn), after taxation, derived fromtotal revenues of KD55.2mn ($182.2mn) compared with KD14.4mn ($46.2mn) and KD48.7mn($156.3mn) respectively in the previous year. According to the companys AnnualReport for 1997, the...