Kuwait National Petroleum Company (KNPC) recorded a 133 percent increase in its net profit during the fiscal year 2021-2022 compared to last year.
Walid Al-Badr, CEO of Kuwait Petroleum, announced that the company’s profits for the fiscal year 2021-2022 totaled 341.38 million dinars ($1.114 billion) compared to 146.544 million dinars during FY 2020-2021.
KNPC is a subsidiary of Kuwait Petroleum Corporation and owns the Ahmadi and Mina Abdullah refineries, which have undergone a comprehensive development process known as the Clean Fuel Project, which was inaugurated by Emir Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah, in March at a total cost of 4.6 billion dinars.
According to Badr, the company’s success in several strategic projects affected reinforcing the efficiency and capabilities of competitiveness and productivity.
