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 to the suspension of sea and land drillers last year, according to the company’s disclosure to Boursa Kuwait.