KIPCO’s first-quarter revenue rose 19 per cent to 137 million dinars.
BPCL operates a 240,000 bpd Mumbai refinery in western India and a 190,000 bpd Kochi refinery in the south of the country.
Ultimatum a sign of the Capital Markets Authority (CMA) tightening its oversight on corporate disclosure norms in the Gulf State’s financial sector.
Accad joins Ahli, a medium-sized lender, from Kuwait’s Gulf Bank where he resigned as CEO last year.
The rules include separating the positions of chairman and chief executive, prompt disclosure of information to the market, and establishing internal controls and risk management.
Subsidies in the major oil producer are expected to cost 5.11 billion dinars ($18.2 billion) next fiscal year to cover items like fuel and energy.
At present, investors wishing to raise their stake in a firm to more than 30 per cent must offer to buy all of its shares under the same price and conditions.
Rising air conditioning demand during summer and a lack of domestic supply means Kuwait needs to import more gas each year to run its power plants.
Mohammed al-Omar has asked to resign and will retire from the beginning of next month, KFH said in a bourse statement.
The company posted a net loss of 8.2 million Kuwaiti dinars ($29.2 million) for the 2013, against a 3.3 million dinar loss a year earlier.
Wataniya made a net attributable profit of 19.8 million dinars ($70.3 million) in the three months to March 31.
The country has been considering an IPO of its stock market for years, but political infighting and entrenched bureaucracy delayed it.
The firm made a net profit of 55.9 million dinars ($198.5 million) in the three months to March 31.
Kuwait’s central bank governor said that the state needs to reduce wasteful spending and “rationalise” subsidy programmes.
Two newspapers were suspended after they published stories about a recording that discusses an alleged plot to overthrow the Gulf state’s ruling system.
The company, which filed a lawsuit, claims Zain’s takeover had stopped the firm buying Iraqna, causing it losses of $4.5 billion.
Net profit rose to 26.06 million dinars in the first three months of 2014 from 23 million dinars in the same period a year ago.
The deadline for bids for the engineering, procurement and construction (EPC) contract is May 11, a senior executive said.
The country’s fourth-largest lender by assets said net profit for the first quarter was $31.1 million.
The Opposition Coalition said parliament should be able to work without the threat of dissolution.
The refinery, which will become the biggest in the Middle East, will begin operations by late 2018 or early 2019.
The total volume of super-cooled gas to be delivered between the two companies would be around 2.5 million tonnes a year, a senior official said.
Net profit was KD83.9 million in the three months to the end of March.
A statement said all forms of communication were banned from discussing the case, including news outlets and social media.
Kuwait, which offered to mediate in the dispute, is planning to present a solution to the two sides soon, a Gulf Arab diplomat said.
Kuwait Petroleum Corporation will provide Egypt with 85,000 barrels of crude oil per day.
In July 2013 Kuwait pledged $4 billion to Egypt, including $1 billion in oil products.
Kuwait’s oil production is expected to reach 3.5 million barrels per day by 2015, a senior official said.
Sources had said that Kuwait’s billionaire al-Kharafi family was looking to sell Americana and had hired bankers to explore a deal.
The deal will bring it a profit of 7.5 million dinars, the firm said in a statement to the Dubai bourse.