Kuwait's Burgan oil company boosts capital by $5 mln

17/08/2009 00:00 AST

Kuwait's Burgan Company for Well Drilling, Trading and Maintenance has agreed to increase its capital by KD 1.46 million (approximately USD five million) up to KD 20.9 million ($73 million) from KD 19.5 million now. The move was taken during the meeting of the company general assembly held on Sunday.

The company posted total revenues worth KD 30.4 million in the fiscal year that elapsed on March 31, 2009, while expenditure hit KD 23.5 million, which means that net profits amounted to KD 6.8 million; share profitability of 37 fils, Mohamed Al-Jazzaf, a member of the company board of directors, said. In spite of the fallout of the global financial crisis on international oil markets, the company managed to achieve good profits last year, he said. Last year, the company drilled and maintained oil and gas wells for the Kuwait Oil Company in northern and western fields, he added. In January and February, the company signed three contracts worth a total of KD 144 million; including two five-year contracts with the Kuwait Oil Company and the third with Al Khafji Joint Operations (KJO) for only one year, he said.

The company is set to distribute cash profits to its shareholders; 7.5 percent of the company's capital, 7.5 fils per share, totaling KD 1.46 million, along with 7.5 percent in bonus; 7.5 percent for 100 shares, totaling KD 1.46 million.


Arab Times

Most Viewed Companies

Ticker Price Volume

Valuation

ABAR Sector Market
P/E
Price/BookValue

Momentum

Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg

Top Related Companies

Ticker Price Change
SAUDIARAMCO 27.58 0.12 (0.43%)
ADNOCGAS 3.19 0.05 (1.59%)
ADNOCDRILL 5.08 -0.07 (-1.36%)
BAHRI 36.00 0.00 (0.00%)
PETRORABIGH 14.85 0.28 (1.92%)

Recent News

Gulf Bank wins 2 prestigious awards from International Business Magazine for 2026

30/04/2026

Gulf Bank has received two prestigious awards from International Business Magazine for 2026: Best Corporate Banking Mobile Application in the Middle East and Excellence in Customer Experience in Bank

Kuwait Times

Tecom Q1 net profit surges 11pc to $201m

30/04/2026

Tecom Group, the creator of specialised business districts and vibrant communities, has delivered solid results for the first quarter of 2026, recording a net profit of AED755 million ($201 million),

Trade Arabia

Dubai sets new record with lowest electricity customer minutes lost

30/04/2026

Dubai Electricity and Water Authority (Dewa) has announced that it has set a new world record for the lowest electricity customer minutes lost (CML), at just 0.82 minutes (about 49 seconds) per year.

Trade Arabia

Emirates Stallions Group nets solid Q1 growth; revenue up 11pc

30/04/2026

Emirates Stallions Group, a subsidiary of IHC and a leading UAE conglomerate operating across construction and real estate sectors, has delivered double-digit growth across key financial indicators w

Trade Arabia

Umm Al Qura in deal to develop debut Kempinski Residences in Makkah

30/04/2026

Saudi-based Umm Al Qura For Development and Construction has announced that it has signed an agreement with global hospitality major Kempinski Group to operate its first branded residences in Makkah.

Trade Arabia

logo

Financial Information Co.

Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2025, Financial Information Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap