Kuwait Energy Co. (KEC), the only Kuwait upstream player to hold assets in Iraq, announced a 4.4% increase in production compared to the same quarter last year in unaudited financial statements released Wednesday. KEC’s production, which totaled 13,168 b/d of oil in the third quarter, came primarily from its holdings in Egypt, Russia and the Ukraine. The company’s revenue increased to $39.8 million in the quarter, compared to $26.8 million last year.
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