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FINANCIAL NEWS
Kuwait Energy Co posts USD48m profit in Q3
09 Nov 2011
(MENAFN) Kuwait Energy Company reported 34 percent increase in third-quarter revenues, Arabian Business reported.
The privately owned oil and gas firm said revenues rose to USD47.9 million compared with the same period of last year, a three percent rise compared to the second quarter.
Kuwait Energy has operations in Egypt, Iraq, Yemen, Oman, Ukraine, Latvia, Russia and Pakistan.
Kuwait Energy also said that average output for the quarter increased 5.2 percent to 13,568 barrels of oil equivalent from the previous quarter.
The company added two natural gas discoveries in Abu Sennan in Egypt’s Western Desert in the third quarter, making a total number of discoveries in Egypt to 13.
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BBK strengthens commitment to sports development through strategic partnership with Bahrain Basketball Association
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