Kuwait National Petroleum Company (KNPC) posted profit of 1.016 billion dinars ($3.31 billion) in the year ended March 31, its highest ever, state news agency KUNA said on Tuesday. The profit was 198% higher than the 341.38 million dinars in the previous fiscal year, KUNA said. The increase was due to higher global oil prices as well as the completion of refineries in Mina Abdullah and Mina Al Ahmadi, KUNA said citing KNPC Chief Executive Wadha Al-Khateeb.
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The economy will fall by 0.1 per cent this year if the government raises production in September and by 1 per cent if it holds the course for the rest of 2023
The economy will fall by 0.1 per cent this year if Saudi government raises oil production in September and could slowdown by 1 per cent if it holds the course for the rest of 2023
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