Kuwait Petroleum Corporation (KPC) recorded a net profit of KD 2.155 billion ($6.9 billion) for fiscal year 2025/2026, its highest in three years, Chief Executive Sheikh Nawaf Al-Sabah said.
He said the result came despite significant challenges
during the fiscal year, including a decline in global oil prices and the
fallout from the Iranian onslaught, which led to a sharp drop in crude
production.
Despite the disruption, Kuwait’s oil industry achieved
several key milestones, including expanding offshore exploration and
strengthening its presence in the global petrochemicals market.
The record $16 billion Shaheen pipeline deal, the largest
foreign investment in Kuwait’s history, was another major achievement, the
official said, according to KUNA.
Send us your company’s news today and they could be featured on ABC’s Community News tommorow.
