Kuwait Petroleum Corp board meets on oil price drop

GMT 19:30 2014 Tuesday ,18 November

Arab Today, arab today Kuwait Petroleum Corp board meets on oil price drop

Kuwait Petroleum Corp (KPC)
Kuwait - KUNA

Kuwait Petroleum Corp. (KPC) board of directors held a meeting here on Tuesday to discuss the ramification of the precipitous slide in world oil prices, said a KPC press statement.
The board mulled measures that might be resorted to in order to stem the tide of the oil prices' deterioration, including a thorough review of the corporation's budgetary expenses for fiscal 2015-2016 with an eye to make some changes to keep normal business from being affected by the price decrease of oil, said the statement.
It added that the board stressed that any measures taken in that regard should have no bearing on the corporation's strategic plans and projects, since the latter have direct impact on the nation's economy.
The meeting today ended with the board endorsing the corporation's budget for fiscal 2015-2016.

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