(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.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.