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13 May 09:43 PM

Sector News

The Kuwaiti company is interested in entering the Bahraini market
8 April 2018 00:11 PM Kuwait NAPESCO eyes Bahraini market
Mubasher: National Petroleum Services Company (NAPESCO) plans to consider some merger offers from Kuwaiti firms in the field of oil drilling and production in the local market. NAPESCO has all related instruments and technologies, a source …
Macroeconomics
PetroGulf’s board recommended not to distribute cash dividends
29 March 2018 03:06 PM PetroGulf turns to profit in Q4-17
Mubasher: Kuwait-based firm Gulf Petroleum Investment (PetroGulf) turned profitable in the fourth quarter of 2017, against suffering losses in the year-ago period. PetroGulf’s profits amounted to KWD 1.28 million ($4.28 million) during Q4-17, …
Financial Results
Senergy has raised its direct stake in Synergy Energy Services Eastern by 3%
26 March 2018 01:24 PM Senergy raises stake in subsidiaries
Mubasher: Senergy Holding Company has increased its direct and indirect ownership in two subsidiaries; Synergy Energy Services Eastern and National Oilfield Services. Senergy has raised its direct stake in Synergy Energy Services Eastern by 3% to …
Trading Activities
Napesco will pay 60 fils per share as a cash dividend for FY17
15 March 2018 00:38 PM Napesco’s shareholders nod to 60% dividends for FY17
Mubasher: The ordinary general meeting (OGM) of National Petroleum Services (Napesco) on Wednesday approved the board’s recommendation to distribute 60% of capital as cash dividends for fiscal year 2017. Napesco will pay 60 fils per share as a …
Financial Results
Napesco’s capital stands at KWD 10 million
11 March 2018 04:35 PM Qurain Petrochemical continues to buy stake in Napesco
Mubasher: Qurain Petrochemical Industries has purchased 4,539 shares in the National Petroleum Services (Napesco) during Thursday’s session. This equity is valued at about KWD 3,630 or 800 fils per share, according to a bourse statement on Sunday. …
Companies Investments
Losses shrank to KWD 1.17 million ($3.89 million) in Q4-17
11 March 2018 00:24 PM Energy House FY17 losses shrink 74.8%
Mubasher: The Energy House Holding has registered a decrease of 92.7% in losses during the fourth quarter fiscal year 2017 compared to the same quarter in the previous year. Losses shrank to KWD 1.17 million ($3.89 million) in Q4-17 from KWD 16 …
Cash Dividends
PetroGulf appointed Mohamed Saleh Alhazza as the new chairman
4 March 2018 03:03 PM PetroGulf forms new board of directors
Mubasher: The board members of Gulf Petroleum Investment (PetroGulf) accepted the resignation submitted by its deputy chairman Hassan Darweesh Al Shamali. PetroGulf has reformed its board of directors, appointing Mohamed Saleh Alhazza as the new …
Corporate Actions
Earnings increased to KWD 640,000 ($2.14 million) in Q3
19 February 2018 09:22 AM Burgan Drilling Q3 profits increase 5%
Mubasher: Burgan Company for Well Drilling, Trading and Maintenance reported a growth of 5% in profits during the third quarter ended 31 December 2017 compared to the same period in the previous fiscal year. Earnings increased to KWD 640,000 …
Financial Results
IPG will pay the cash dividends on 7 March
13 February 2018 05:05 PM IPG to pay 30 fils/shr dividends for FY17
Mubasher: The ordinary general meeting (OGM) of Independent Petroleum Group (IPG) approved the board’s recommendation to distribute 30% of capital as cash dividends for fiscal year 2017. IPG will pay 30 fils per share at a total value of KWD 5.65 …
Trading Activities
Napesco has a capital of KWD 10 million
7 February 2018 03:52 PM Qurain Petrochemical buys stake in Napesco for 784 fils/shr
Mubasher: Qurain Petrochemical Industries has purchased about 64,440 shares in National Petroleum Services (Napesco) during Tuesday’s trading session. On a bourse statement on Wednesday, the purchase transaction was executed at an average price of …
Trading Activities
Ahmed Al Sumait is the chairman of Energy House
4 February 2018 03:10 PM Energy House names new CEO
Mubasher: The Energy House Holding announced the appointment of Hamad Ali Mohamed Al Qahtani as the new CEO. This new position will be effective from 1 February, according to a bourse statement on Sunday. It is worth noting that Ahmed Al Sumait is …
Corporate Actions
KOC’s contract has a duration of one year
4 February 2018 01:24 PM Napesco assigned KWD 18.38m contract
Mubasher: National Petroleum Services (Napesco) announced that it received a letter of direct assignment to a contract worth KWD 18.38 million. The contract is offered by Kuwait Oil Company (KOC), according to a bourse filing on Sunday. KOC’s …
Companies Investments
Earnings increased to KWD 2.02 million ($6.75 million) in Q4-17
30 January 2018 10:18 AM Napesco records higher profits in FY17; board proposes 60% dividends
Mubasher: National Petroleum Services (Napesco) achieved a growth of 2% in profits during the fourth quarter of 2017 compared to the same period in the prior year. Earnings increased to KWD 2.02 million ($6.75 million) in Q4-17 from KWD 1.98 …
Financial Results
Ajial Real Estate's deal is subject to another transaction entails acquiring a 10.147% stake in PetroGulf
24 January 2018 01:11 PM Investors eye stakes in Ajial Real Estate, PetroGulf
Mubasher: Two investors have reached a preliminary agreement on purchasing 13 million shares in Ajial Real Estate Entertainment at a value of 225 fils per share, an investment source said on Wednesday.  Ajial Real Estate's deal is subject to …
Corporate Actions
Qurain Petrochemical noted that it did not receive any acquisition offers.
22 January 2018 11:31 AM Boursa Kuwait resumes trading on Qurain Petrochemical, NAPESCO stocks
Mubasher: Boursa Kuwait resumed trading on the stocks of Qurain Petrochemical Industries and The National Petroleum Services Company (NAPESCO) after denying news about acquisition from US entity on NAPESCO. By 8:45 am Kuwait time, the bourse …
Trading Activities
NAPESCO expected to generate a profit margin of 10% from the total cost of the three-year contract.
21 January 2018 00:04 PM Napesco signs KWD 2.25m contract with KOC
Mubasher: The National Petroleum Services Company (NAPESCO) on Sunday announced that it has won contract worth KWD 2.25 million for drilling and maintenance works at the fields owned by Kuwait Oil Company (KOC).  The Kuwait-based public …
Macroeconomics
Earnings increased to KWD 6.23 million in FY17
10 January 2018 05:17 PM IPG profits in FY17 grow; 30% dividends approved
Mubasher: The preliminary financial statements of Independent Petroleum Group (IPG) reported a growth of 24.4% in profits during fiscal year 2017 compared to 2016. Earnings increased to KWD 6.23 million in FY17 from KWD 5.01 million in FY16, …
Board of Directors
This repayment agreement followed the final cassation ruling
25 December 2017 11:17 AM UAE’s Grandweld to pay AED 19m to Senergy’s subsidiary
Mubasher: Senergy Holding Co announced that a 91.053%-owned subsidiary has signed an agreement with the UAE company Grandweld to repay AED 19 million ($5.2 million), according to a statement disclosed on Monday. This repayment agreement followed …
Corporate Actions
The tender is valued at KWD 2.25 million
7 December 2017 04:16 PM Napesco wins lowest bids in KOC tender
Mubasher: National Petroleum Services (Napesco) was awarded the lowest bids in four out of five groups in a tender offered by Kuwait Oil Company (KOC). The tender is valued at KWD 2.25 million, according to a bourse statement issued on Thursday. …
Companies Investments
Burgan Drilling registered a decline of 1.5% in profits in 6 months
6 December 2017 01:16 PM Burgan Drilling Q2 profits shrink 17%
Mubasher: Burgan Company for Well Drilling, Trading, and Maintenance reported a decline of 17.1% in profits during the second quarter ended in September 2017 compared to the same period a year ago. Earnings decreased to nearly KWD 607,900 ($2.02 …
Financial Results
Grandweld is the plaintiff company
27 November 2017 11:59 AM UAE court orders Grandweld to pay AED 16m to Senergy unit
Mubasher: The cassation court in the UAE has issued a ruling in favor of a 91.053%-owned subsidiary of Senergy Holding, which is listed on Boursa Kuwait. The UAE court has ordered Grandweld, which is the plaintiff company, to pay AED 16.243 …
Company News
PetroGulf turned into losses of KWD 3.63 million in 9M
13 November 2017 05:37 PM PetroGulf incurs KWD 1.16m losses in Q3
Mubasher: Gulf Petroleum Investment (PetroGulf) suffered a loss of KWD 1.16 million ($3.84 million) in the third quarter of 2017, 95.3% higher than KWD 594,000 ($1.97 million) in the same period a year ago. During the nine-month period of 2017, …
Financial Results
Losses shrank to about KWD 427,030 ($1.41 million) in Q3-17
12 November 2017 11:10 AM Senergy Q3 losses shrink 86.8%
Mubasher: Senergy Holding Co reported a decline of 86.8% in losses during the third quarter of 2017 compared to the same period a year ago. Losses shrank to about KWD 427,030 ($1.41 million) in Q3-17 from KWD 3.24 million ($10.73 million) in …
Financial Results
The increase in the operational activity resulted in growing Q3 profits
7 November 2017 00:23 PM NAPESCO profits jump 104% in Q3
Mubasher: National Petroleum Services (NAPESCO) on Tuesday reported an increase of 104.4% year-on-year in the third quarter profits of 2017. The profits reached KWD 3.96 million ($13.11 million) in Q3-17, compared to KWD 1.94 million ($6.42 …
Financial Results
IPG reported earnings per share of 31.33 fils in the nine-month period this year
10 October 2017 04:23 PM IPG profits up 1% in Q3
Mubasher: Independent Petroleum Group (IPG) achieved a slight growth of 1% in profits as registered in the preliminary income statements of the third quarter of 2017 compared to the same period a year ago. Earnings increased to KWD 1.445 million …
Financial Results