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ADNOC Distribution 2025 dividend $700m

The company had reported EBITDA of $1.17 bn in 2025.

Empower okays $119.1m H2 2025 dividend

The dividend is equivalent to 43.75% of paid-up capital.

Alujain widens 2025 loss

The increase in loss is due to impairment charges, weaker prices.

Masar 2025 net profit $262m

Higher land plot sales boost revenue and operating income.

Tasnee’s 2025 losses deepen

The petrochemicals' company's revenue also fell 17.7 percent.

Kuwait to spend $3.31 billion on cleaning-up its land contaminated with crude oil

    • The project is considered to be one of the largest in the world

    • Some 114 sq km of land will be cleaned up of oil

    Kuwait has set itself the task to clean up its soil contaminated with crude oil from the destruction of nearly 700 oil wells in the whole country. Kuwait Oil Company (KOC) has awarded its largest environmental project for cleaning polluted soil at a total cost of more than $3.31 billion to various local and international companies, said media reports citing senior sources in the company.

    The project, which is considered to be one of the largest in the world, will be implemented in five phases and the contracts are likely to be signed within the next two weeks, stated the report citing sources in Kuwait’s Central Agency for Public Tenders (CAPT). 

    The two major stages of the project are North Kuwait Drilling, Transport and Processing Project and the South Kuwait Exploration, Transport and Processing Project which will together treat 13 million cu m of oil contaminated soil, stated the report.

    This is related to soil damage, including lakes, moist and dry oil and oil-contaminated piles. The region covers 114 sq km of land contaminated with crude oil as a result of the destruction of about 700 oil wells in Kuwait. North Kuwait Drilling, Transport and Processing Project is divided into two sites with a total value of $381.58 million, added the media reports. 

    The first site (Zone One) contract worth $193.58 million was awarded to the alliance of Khaled Ali Al Kharafiand Brothers for Construction Contracting and Lamor Corporation, while the Zone Two work was awarded to Kuwaiti Company for Plant Construction and Contracting and Environmental Technology Management Company for a total amount of $188 million.

    On the South Kuwait Drilling, Transport and Processing project, CAPT sources said the Zone One contract has been awarded to the alliance of Khaled Ali Al Kharafiand Brothers for Construction Contracting and Lamor Corporation valued at $196.53 million, while Zone Two contract has been clinched by the Heavy Engineering Industries and Shipbuilding Company in alliance with Zaopin valued at $185.23 million.