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Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

Kuwait exports first shipment of quality diesel to shortage-hit Europe

The oil confirms to the European standards. (QNA)
  • Kuwait National Petroleum Company shipped 66,000 tons, and the shipment was produced with special specifications that fulfil the European markets' requirements.
  • The energy sector in Europe faces unprecedented crisis and upsurge in the prices of electricity and gas, especially after launch of Russian-Ukrainian war.

Kuwait City, Kuwait– Kuwait National Petroleum Company has exported the first shipment of the advanced diesel fuel to the European markets in light of the severe shortage of energy sector in the continent.

Kuwaiti media reports said the company shipped 66,000 tons, and the shipment was produced with special specifications that fulfil the European markets’ requirements, especially in winter season.

The fuel conforms to the advanced and environmental standards with its distinguished quality.

The energy sector in Europe faces unprecedented crisis and upsurge in the prices of electricity and gas, especially after launch of Russian-Ukrainian war and the imposition of US sanctions on Moscow.

Oil merchants increased diesel shipments from Asia and the Middle East to Europe in October to profit from a wide price gap between the regions, following weeks-long strikes at French refineries, that had reduced stock levels. 

According to ship tracking data from Refinitiv, about 289,000 tons of gasoil was to be loaded from South Korea and China to northwest Europe in October, up from 137,500 tons in September.