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FINANCIAL NEWS
Kuwait Petroleum Co. to post USD51.93b revenues in FY 2015/16
07 Jun 2015
(MENAFN) Kuwait Petroleum Corporation (KPC) is set to register USD51.93b revenue in the financial year of 2015/2016, according to the National Assembly’s Budget Committee, Kuwait News Agency reported.
However, the Committee also predicted that KPC will record a huge slump in revenues, by 36 percent, in this fiscal year 2014/2015 as a result of the decrease in oil prices and hydrocarbon products.
The Committee added that the budget also forecasts that the net profits of the KPC and its subsidiaries would amount to USD 1.6 billion for the same fiscal year.
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