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Kuwait Energy Posts 34% Rise in Revenue in 2011 Third Quarter

Kuwait Energy Co., a privately owned oil and natural-gas company, said its revenue rose by 34 percent to $47.9 million in the third quarter of 2011 compared with the same period of last year.

Revenue increased 3 percent in the three months to September, compared with the second quarter, according to a statement published today in the state-run Kuwait News Agency.

Kuwait Energy has operations in Egypt, Iraq, Yemen, Oman, Ukraine, Latvia, Russia and Pakistan. The company had proven and probable reserves of 48.8 million barrels of oil equivalent at the end of last year.

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