QPICQualified Person in Charge (Idaho)
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Announcing the results for the first quarter ended June 30, 2019, QPIC said its consolidated gross profit increased 10 per cent to reach KD16.20 million ($53.33 million) from KD14.76 million ($48.59 million) reported for the same period last year owing to the increase in sales revenues during the period.
Dow is not involved in the aromatics field so we decided to go it alone with QPIC. As there is a lot of liquidity in the market, and it is a profitable business, we opted to go to the banks for finance.
QPIC's board of directors has recommended the distribution of cash dividends amounting to 16 per cent (16 fils per share), subject to approval by the company's General Assembly and regulatory authorities, it added.
Kuwait's QPIC said its purified terephthalic acid and PET project planned to be built in Jubail Industrial City, Saudi Arabia, was aimed at developing downstream industries.
KUWAIT, Oct 23 (KUNA) -- Qurain Petrochemical Industries Company (QPIC) Tuesday said it achieved Kuwaiti Dinars (KD) 4.41 million (USD 14.52 million) in net profits in second quarter ending September 30.
QPIC's chairman Sheikh Mubarak Abdullah Al-Mubarak Al-Sabah said: "The achieved results affirm the ability of QPIC's business model to withstand market volatilities, allowing us to deliver consistent solid performance and results that meet our shareholders' expectations.
Qurain Q1 profit up 24pc KUWAIT: Qurain Petrochemical Industries Company (QPIC) has registered a net profit of KD27.5 million ($97.3 million) for the first quarter, up 24 per cent over KD22.2 million last year.
Qurain Petrochemical Industries Company (QPIC)'s $1 billion project in Saudi Arabia made fresh progress with the appointment recently of IHS Inc as planning and development advisor for the scheme.
An international joint venture, Equate's shareholders include Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC).
Kuwait-based Qurain Petrochemical Industries Company (QPIC) has recorded a 52 per cent jump in its net profit for the first quarter which soared to KD22.61 million ($79.3 million) from KD14.85 million last year.
Other Jubail-2 projects Qurain Petrochemical Industries Company (QPIC) announced recently that it has applied officially to the Royal Commission of Jubail and Yanbu for permission to set up a PTA/PET project in Jubail-2 and approvals were expected soon.