VOL. XXXIX

No. 33

13-May-1996

KUWAIT

Kuwait's IPG Announces Net Profit Of $4.7Mn In 1995

The Kuwaiti private oil company, the Independent Petroleum Group S.A.K (IPG), announced on 23 April a net profit for 1995 of KD1,423,079 ($4.7mn at the current rate of exchange 1$ = KD0.30), an increase of more than 10% over the net profits for 1994 of KD1,292,927mn ($4.3mn). According to the company's Annual Report for 1995 (which includes the company's audited accounts and which has just been...