Kuwait – Mubasher: Kuwaiti oil minister Essam Al-Marzouq said Monday that the actual spending by the Kuwait Petroleum Corporation (KPC) and its subsidiaries on local products and services in the past five financial years amounted to around KWD 4.7 billion ($15.39 billion).
Speaking on the sidelines of a press conference held by KPC, Al-Marzouq noted that the company’s local expenses in the sector over the past fiscal year have grown significantly, and exceeded 40% compared to the previous year.
The minister expects the company’s local expenses to continue rising in the current fiscal year, as well as the next one, and to exceed KWD 1.2 billion per year.
