Kuwaiti parliament passes state oil giant’s budget

KUWAIT CITY — Parliament yesterday approved the 2005-2006 budget for state-owned Kuwait Petroleum Corp (KPC) and its subsidiaries, projecting a net profit of at least two billion dollars.

By (AFP)

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Published: Wed 22 Jun 2005, 11:18 AM

Last updated: Thu 2 Apr 2015, 4:45 PM

Revenues were projected at 20.2 billion dollars and spending estimated at 18.2 billion dollars in the fiscal year between April 1 and March 31.

Oil revenues were calculated at a conservative price of 21 dollars a barrel, and a daily production of two million barrels.

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