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19 February 04:30 AM

Sector News

The contract will generate a profit margin
30 August 2020 00:39 PM PetroGulf's unit inks AED 144m contract with ADNOC
Mubasher: Superior Abu Dhabi Co, a 90% subsidiary of Gulf Petroleum Investment (PetroGulf), has signed a three-year contract worth AED 144 million (KWD 12.05 million) with the Abu Dhabi National Oil Company (ADNOC). To be effective from 1 October …
Companies Investments
The distribution date is 9 July 2020
18 June 2020 01:29 PM NAPESCO to distribute 70% dividends for 2019
Mubasher: The general assembly of the National Petroleum Services (NAPESCO) has approved the board of directors’ recommendation to distribute dividends to shareholders for 2019. The eligibility for the dividends will be for the shareholders …
Cash Dividends
Losses amounted to KWD 1.41 million in 2019
18 June 2020 00:16 PM PetroGulf reduces annual losses by 47%
Mubasher: Gulf Petroleum Investment (PetroGulf) has reported a decline in annual net losses by 46.6%. Losses amounted to KWD 1.41 million ($4.59 million) last year, compared with KWD 2.65 million ($8.63 million) in 2018. The losses were attributed …
Financial Results
The losses reached KWD 4.1 million in Q4-19
10 May 2020 10:50 AM Senergy Holding's losses up 793% in 2019
Mubasher: Net losses of Senergy Holding Company amounted to KWD 4.7 million in fiscal year (FY) 2019, 793% more than KWD 534,690 in the previous year. The increased losses are attributed to net impairment losses of goodwill and other provisions by …
Financial Results
The decision was made after the company had paid the annual subscription fees
8 April 2020 09:34 AM Boursa Kuwait resumes trading on Burgan Drilling
Mubasher: Boursa Kuwait has resumed trading on the stock of Burgan Company for Well Drilling, Trading, and Maintenance as at Wednesday, 8 April. The decision came after the company had paid the annual subscription fees for 2020, according to an …
Stock Evaluations
The company's losses reached KWD 1.2 million in Q4-19
30 March 2020 03:20 PM Energy House turns to loss in 2019
Mubasher: The Energy House Holding registered KWD 5.47 million worth of losses in the fiscal year (FY) ended in December 2019, against profits of KWD 80,174 in 2018. In the fourth quarter (Q4) of 2019, the losses jumped by 8,554% to reach KWD 1.2 …
Financial Results
The higher annual earnings are due to the company’s performance
10 March 2020 04:06 PM IPG’s profit up 8% in 2019; dividends proposed
Mubasher: The Independent Petroleum Group (IPG) achieved net profits of KWD 6.63 million ($21.7 million) during the fiscal year ended on 31 December 2019, up by 7.9% from KWD 6.14 million ($20.19 million) in 2018. In the fourth quarter of 2019, …
Cash Dividends
Earnings per share (EPS) totalled 117.25 fils in 2019
4 March 2020 09:33 AM Napesco's profits dip 4% in 2019; dividends proposed
Mubasher: The net profit of National Petroleum Services (Napesco) declined by 3.57% on an annual basis in 2019 to reach KWD 11.37 million ($37.24 million), compared to KWD 11.79 million ($38.62 million) in 2018. Earnings per share (EPS) stood at …
Financial Results
The deal has a term of five years
19 February 2020 10:48 AM Napesco wins KWD 8m tender by KGOC, Saudi Arabian Chevron
Mubasher: National Petroleum Services (Napesco) was awarded a KWD 7.74 million ($25.4 million) tender by Kuwait Gulf Oil Company (KGOC) and the Kuwait-based Saudi Arabian Chevron Inc.   Under the five-year tender, Napesco will provide …
Companies Investments
Napesco may realise a profit margin of 12.5%
17 February 2020 09:38 AM Napesco seals KWD 110m deal with KOC
Mubasher: National Petroleum Services (Napesco) announced the signing of a tender contract worth KWD 109.6 million with Kuwait Oil Company (KOC) for the execution of operations and services on coiled tubing.   The five-year deal is expected to …
Companies Investments
Further details will be announced in due course.
12 February 2020 09:22 AM Napesco awarded KOC tender deal
Mubasher: National Petroleum Services (Napesco) has won a tender offered by Kuwait Oil Company (KOC) regarding the execution of coiled tubing operations and services.   The material impact of the deal will be advised after the conclusion of the …
Companies Investments
Profits soared by 30% annually in Q3-19/20
11 February 2020 03:02 PM Burgan Drilling’s profits plunge 56% in 9M-19/20
Mubasher: The net profit of Burgan Company for Well Drilling, Trading, and Maintenance retreated by 55.9% on an annual basis over the first nine months ended 31 December 2019. Earnings stood at KWD 937,313 (approx. $3.09 million) at the end of …
Financial Results
Senergy owns an indirect stake in Eastern National Company
8 January 2020 10:52 AM Senergy’s unit wins $3m tender in Oman
Mubasher: Senergy Holding Company announced that its subsidiary Eastern National Company for Oilfield Services, along with an oil company in Oman, was awarded a tender of nearly $3 million. The tender for Eastern National Company, in which Senergy …
Company News
Profit dropped 66.9% YoY in H1
15 November 2019 09:11 PM Burgan Drilling’s profit decreases 84.6% YoY in Q2-19/20
Mubasher: Burgan Company for Well Drilling, Trading, and Maintenance has reported a 84.6% year-on-year profit decline during the second quarter of the fiscal year 2019/2020. The company’s profit declined to KWD 149,870 in the three-month period …
Financial Results
Loss declined to KWD 958,150 in 9M/19
12 November 2019 06:38 PM PetroGulf slashes loss in Q3-19
Mubasher: Gulf Petroleum Investment (PetroGulf) has reported a 69.4% year-on-year loss decline during the third quarter of the fiscal year 2019. The company’s loss dropped to KWD 404,030 ($1.33 million) in Q3-19, compared to KWD 1.32 million …
Financial Results
Losses reached KWD 184,000 in the third quarter of 2019
12 November 2019 04:32 PM Senergy losses up 73% in Q3
Mubasher: Senergy Holding Company posted a 73% year-on-year (YoY) increase in losses during the third quarter (Q3) of the year, as shown by quarterly financial statements. Losses reached KWD 184,000 in Q3-19, compared with KWD 426,600 in the …
Financial Results
Photo Archive
12 November 2019 02:01 PM PetroGulf subsidiary rents land driller
Mubasher: A wholly-owned subsidiary of Gulf Petroleum Investment (PetroGulf) has leased a land driller for three years, according to a statement to Boursa Kuwait. GPI revealed that the lease contract’s total value stands at $4.32 million, noting …
Companies Investments
IPG's profits may plunge to KWD 712,000 in Q3-19
9 October 2019 03:17 PM IPG expects Q3-19 profits to decline from KWD 1.4m
Mubasher: The Independent Petroleum Group (IPG) announced its expectation for the initial financial results during the third quarter of 2019 ended on 30 September 2019. Year-on-year, the net profits are forecast to plunge to KWD 712,000 or 3.94 …
Company News
Burgan Drilling affirms that the news is untrue
9 October 2019 00:06 PM Burgan Drilling denies news on selling $30 assets in UAE
Mubasher: Burgan Company for Well Drilling, Trading, and Maintenance denied the news reported in Al Jarida Newspaper on Tuesday, 8 October, under the headline (Listed company sells $30 million assets in Dubai). The news did not include a …
Companies Investments
The news is untrue and irrelevant to PetroGulf
8 October 2019 03:29 PM PetroGulf denies news on selling $30m assets in UAE
Mubasher: Gulf Petroleum Investment (PetroGulf) has denied the news reported in Al Jarida Newspaper on 8 October under the headline (Listed company sells $30 million assets in Dubai) with no disclosure included. In this regard, PetroGulf …
Companies Investments
Senergy Holding’s losses rose by 4.5% in Q1-19
8 August 2019 02:11 PM Senergy Holding’s losses enlarge 86% in Q2-19
Mubasher: The financial statements of Senergy Holding Company revealed an 86.4% year-on-year increase in losses during the second quarter of 2019. The losses of the period depended to around KWD 227,620 ($750,580) from about KWD 122,110 ($402,660) …
Financial Results
PetroGulf recorded a 17.7% YoY increase in Q1-19 losses
8 August 2019 00:19 PM PetroGulf’s losses shrink 83% in Q2-19
Mubasher: Gulf Petroleum Investment (PetroGulf) reported a decline of 83.2% year-on-year (YoY) in losses during the second quarter of 2019. The losses stood at about KWD 108,120 ($356.53) during Q2-19, compared to nearly KWD 645,000 ($2.13 …
Financial Results
NAPESCO
1 August 2019 04:09 PM Napesco wins $22m contract from Kuwaiti, Saudi firms
Mubasher: National Petroleum Services (Napesco) has won a $22 million no-bidding contract for coiled tubing and nitrogen pumping and related services from Kuwait Gulf Oil Company and Saudi Arabian Chevron. The five-year contract will be effective …
Companies Investments
Napesco recorded a growth of 13.2% in H1 profits
25 July 2019 09:41 AM Napesco records KWD 4m profits in Q2-19 on higher sales
Mubasher: The National Petroleum Services (Napesco) achieved a year-on-year increase of 19.4% in profits during the second quarter of 2019. The profits grew to KWD 3.39 million ($11.17 million) in Q2-19 from KWD 2.84 million ($9.36 million) in …
Financial Results
Final income statement will be disclosed in three weeks.
9 July 2019 04:18 PM IPG’s profit may reach $8.2m in Q2
Mubasher: Independent Petroleum Group (IPG) reported an 11.7% year-on-year increase in expected profit for the second quarter of the fiscal year 2019, recording KWD 2.49 million ($8.21 million). IPG’s forecast profit for the first six months of …
Company News