High-ranking oil sources said the Kuwait Petroleum Corporation achieved a net profit of 1.2 billion dinars during the past fiscal (2021/2022).
Sources stated that the KPC Board of Directors has decided to transfer more than one billion dinars to the state’s public treasury, as well as transferring 120.6 million dinars to the general reserve of the corporation, reports a local Arabic daily.
The KPC revenues were distributed as crude oil 16.8 billion dinars, 6.7 billion dinars petroleum products, 2.6 billion dinars in revenues from gas and 125.6 million dinars liquefied gases, while the Corporation achieved revenues of 585.7 million dinars from the financial portfolios.
In terms of expenses, the direct variable costs amounted to 24.2 billion dinars, and operating expenses amounted to 3.4 billion dinars, while the total expenses recovered from the state amounted to 2.1 billion dinars, and the net operating expenses amounted to 1.27 billion dinars.
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