Gulf Petroleum Investment (GPI)

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 …

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 …

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 …

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 …

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 …

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 …

Mubasher: Gulf Petroleum Investment (PetroGulf) on Sunday announced it has turned to losses during the fourth quarter of 2018 as compared with Q4-17. The company has incurred KWD 305,000 ($1.01 million) in losses, against a net profit of KWD 1.28 …

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, …

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 …

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 …

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, …

Mubasher: Gulf Petroleum Investment (PetroGulf) has denied the news spreading on social media via Twitter regarding the possibility of reducing the company’s capital, according to a bourse statement issued on Sunday. PetroGulf’s capital stands at …

Mubasher: Gulf Petroleum Investment (PetroGulf) registered a decline of 90.2% in losses during the second quarter of 2017 compared to the same period a year ago. Losses shrank to KWD 170,000 ($561,900) in Q2-17 from KWD 1.73 million ($5.7 million) …

Kuwait – Mubasher: Gulf Petroleum Investment (PetroGulf) has signed an agreement to reschedule its debts with the Commercial International Bank – Egypt (CIB) at a value of $25.22 million. The agreement includes repaying debts in a five-year period …

Kuwait – Mubasher: Gulf Petroleum Investment (PetroGulf) suffered a loss of KWD 2.3 million ($7.6 million) during the first quarter of 2017, against profits worth KWD 4.3 million ($14.1 million) in the same period of the prior year. The company …

Mubasher: The losses of Gulf Petroleum Investment (PetroGulf) shrank by 95% to KWD 98,000 ($320,510) during the fourth quarter of 2016 from KWD 1.94 million ($6.35 million) in the same quarter of 2015. During fiscal year 2016, the company achieved …

Kuwait – Mubasher: Gulf Petroleum Investment (PetroGulf) said that its 100%-owned Egypt-based subsidiary, Pyramid Drilling, has finished the drilling works with Gulf of Suez Petroleum Co (GUPCO). The contract’s termination followed a modification …

Kuwait – Mubasher: The losses of Gulf Petroleum Investment (GPI) shrank by 64.3% during the third quarter this year as compared to the same period a year ago. Losses narrowed to about KWD 593,440 ($1.95 million) in Q3-16 from KWD 1.66 million …

Kuwait – Mubasher: Superior Abu Dhabi Company, a 90% subsidiary of PetroGulf, received Kuwait Oil Company’s (KOC) approval to work as a services contractor, for Category 84, according to a statement. PetroGulf unit will provide coil tubing …

Kuwait - Mubasher: Superior Abu Dhabi Company, a subsidiary of PetroGulf, announced on Monday signing a $34 million contract with Abu Dhabi Company for Onshore Petroleum Operations (ADCO). The company signed a renewal contract with ADCO for two …

Kuwait – Mubasher: Gulf Petroleum Investment Company (PetroGulf) announced on Sunday the resignation of its CEO, Abdullraouf Tawfeeq. According to a bourse filing, Tawfeeq will continue in his position until 31 October. PetroGulf’s stock closed …

Kuwait – Mubasher: Gulf Petroleum Investment’s (Petrogulf) losses shrank 43% to reach KWD 1.3 million ($4.3 million) during the second half of 2016 as compared to KWD 2.3 million ($7.6 million) in the same period of 2015. The company clarified in …

Kuwait-Mubasher: Gulf Petroleum Investment (Petrogulf) saw a positive turn in financials of the first quarter in 2016, versus losses in the corresponding period in 2015, according to a bourse statement. Petrogulf recorded profits worth KWD 4.28 …

Kuwait – Mubasher: Gulf Petroleum Investment (PetroGulf) Company signed on Monday a contract with Rig Ways Company to drill a number of wells in Egypt. The extendable contract covers a period of six months, starting on 16 March, the company said …

Kuwait-Mubasher: The extraordinary general meeting of Gulf Petroleum Investment (GPI) approved a capital increase to KWD 45.5 million from KWD 37.6 million. The KWD 7.9 million hike will be generated from the issuance of 79.6 million shares at par …