Oil Government's Revenues Jumped By 57%
Posted on: Wednesday, 8 February 2006, 15:00 CST
According to the Kuwaiti news agency (February 8, 2006), a recently publicized report by the National Bank of Kuwait shows that the government's oil revenues totaled KD 8.7 billion ($32.24 billion) in the first eight months of fiscal year 2005/2006, an increase of 57% compared with the same period last year
. The report attributed this rise to higher oil prices and production. A 46 percent increase in the price of Kuwait export crude (KEC) and a 7 percent increase in crude oil output compared to the same period last year.Source: Info-Prod Research (Middle East)
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