The official data revealed a map of long-term financial liabilities of Kuwait Petroleum Corporation and its subsidiaries, which is about 12.63 billion dinars, half of which is represented by long-term distributable profits of 6.28 billion dinars.
The data shows that the remaining part of the liabilities is allocated at 28%, which is 3.52 billion dinars, as long-term liabilities with specific maturities, while other long-term liabilities account for 22% of liabilities, which is 2.8 billion dinars.
Specifically, the data showed that KPC and its subsidiaries have a balance of RSD 3.96 billion in debt, as well as other liabilities to 10 companies and KPC itself, in addition to taxes owed by some oil companies operating outside the country, the Kuwaiti newspaper quoted newspaper. Al Anbaa.
The list includes the balances of the debt of the “Oil Corporation” in the amount of 835.9 million dinars and the Kuwait Oil Company in the amount of 859.6 million dinars, with respect to the Kuwait National Oil Company, the balance of its debt is 674.75 million » from 675.9 million dinars.
The list included Oil Tanker Company with 50.5 million dinars, Petrochemical Industry Company with 38.56 million dinars, Kuwait Foreign Petroleum Exploration Company with 230.2 million dinars, Kuwait Gulf Oil Company with 89.4 million dinars and Kuwait Integrated Petroleum. An industrial company with 293.6 million dinars, in addition to 213.05 million dinars in taxes, 313 thousand dinars for the Oil Sector Services Company and 212 thousand dinars for other subsidiaries.
The data showed that the highest percentage of liabilities on the “Oil Corporation” among the list of other long-term liabilities was 54.4%, in the amount of 1.53 billion dinars, on the severance pay reserve for employees. Corporation and its subsidiaries, while the second solution was lease liabilities, which accounted for only 28%, worth RSD 795.6 million. Third, the CCP’s liabilities to the Kuwait Foreign Oil Exploration Company amounted to about 269.6 million dinars.
The list of liabilities includes an item on liabilities of the pension fund in the amount of 36.57 million dinars, as well as an item on deferred taxes in the total amount of 81.56 million dinars, including deferred taxes in favor of the Kuwait Foreign Oil Exploration Company KUFPEC. in the amount of 75.6 million dinars, and another 5.94 million dinars in favor of International Petroleum KBC Holdings Company (Europe).
The data showed that other long-term liabilities included an item related to gas cylinder insurance liabilities to Kuwait Oil Tanker Company in the amount of RSD 18.36 million, not to mention other liabilities to KBC Holdings “Europe” in the amount of RSD 47.06 million. dinars and the National Oil Company in the amount of 47.06 million dinars, 26.28 million dinars and the Kuwait Gulf Oil Company in the amount of 13.79 million dinars.
The list of liabilities included a clause for commercial creditors, which included itemizing RSD 1.5 billion of liabilities to 8 oil companies led by KBC Holdings “Europe”, which purchased 51% of funds owed to commercial creditors, valued at RSD 770 million.
In second place is the Kuwait Oil Company, which acquired about 29% of the liabilities for 430.4 million dinars, not to mention 172.82 million dinars from the Oil Corporation itself, 64.7 million dinars from the Kuwait Foreign Oil Exploration Company, 55, 5 million dinars off Kuwait Bay. Oil Company and 4 million dinars for the National Oil Company, 3 million for the Petrochemical Industrial Company, and 2.5 million dinars for the Kuwait Oil Tanker Company.
The data showed that the cost of what the Ministry of Petroleum requires (the fees of the Ministry of Petroleum) for the 2021/2022 financial year is about 5.99 billion dinars, which is the amount owed to the Ministry for the cost of the purchase. crude oil and natural gas, in addition to the amounts due to the Ministry as a result of specific activities in transactions carried out by the Corporation and its subsidiaries on behalf of the state.
