The Kuwait Petroleum Company International (KPCI) profits for the financial year 2003-2004 hit a remarkable record of US$70 million compared to losses of US$ 98 million the year before.
KPCI said in a statement, cited by KUNA, that this profit was realized despite the drop of USD exchange rate
compared to the Euro and despite the faltering financial results of its refinery in the refinery of Europort, Netherlands.
KPCI operational profits before deduction of interests, taxes and currency differentials amounted to US$ 116.8 million.
It added that marketing activity realized profits that exceeded projections.
© 2004 Mena Report (www.menareport.com)
