How business, doctors and journalists prey on your food anxieties I

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Kuwait SPECIAL ADVERTISING SUPPLEMENT P.4 I 4 Cmde oil prodcccion ;n Kuwait st<strong>and</strong>s at twc n :lllo, b«els a day, wi .h tie Burgsn field one of the T.ost pro'.ific in the woddA companies," he says, "Wlth the experierce gained, we will tackle the sale of utilities, of which telecommunications will be .he first, followed by the power <strong>and</strong> water industries, <strong>and</strong> eventually wholly stat.e-owned companies such. as Kuwait Airways ." The World Bar.k identified 74 public or mixed companies as suitab' .e c<strong>and</strong>idates, including 62 In which KIA has shareholdings . It is estimated tnat ^.he total value of the govemment's http://legacy.library.ucsf.edu/tid/agf97d00/pdf shareho'.d .ngs (excluding oil-sector enterprises) amounts to KD 3 .6 billion ($11 .15 bil :ion), mctuding KD 2 .2 billion ($7 .42 blilion) in electric power <strong>and</strong> water facilities, KD 200 million (5675 million) in te,ecorrmunications, KD 420 million ($1 .41 billion) in Kuwait Airways Corporation ard KD 800 million ($2 .7 billion), representing KIA's shareholdings in !ts 62 companies . These have beer. grouped in three categories : 23 that could be privatized o,u :clGy with few complicatfons ; six that could be liqu[dated ; <strong>and</strong> 33 'hat need further analysls . Tce largest proportion of these conssts of 24 companies in the banking, real estate <strong>and</strong> financia : sectors . Privatzation of KIA companies began last Seotember with the sale o`f shares in the Commercial Facilities Company ICFCI, wNch was five times oversuoscribed <strong>and</strong> now trades at a heaithy premium . In December KIA auctioned 60 miaion of the 71 million shares it owned in A-Ahli Bank, -ealizing KD ;0 million ($33 .75 million) for me govemment . A Gulf Bank, we emphasize ttuee prLn dpal activities: providing banking services to international comoanies <strong>and</strong> institution5 contributing to the development of Kuwait ; supporting the international requirements of the Bank's domestic customers ; <strong>and</strong> international lending to oil related <strong>business</strong> <strong>and</strong> the financin.g of international trade to Kuwait <strong>and</strong> the Gulf region . At KD 1 .39 billion (approximately US$ 4 .5 billion), we are just the right size to meet all your fin<strong>and</strong>al needs while giving you the personal attention <strong>and</strong> service you require to do <strong>business</strong> in Kuwait . So, when you are ready to do <strong>business</strong> with Kuwait, we cvlll be ready to do <strong>business</strong> with you . For more inforrnation <strong>and</strong> to obtain a copy e,f our annual report, fax your busness card to our International Division in Kuwait on (965) 242 2849, P.O.BOX 3200, SAFAT 13032, KUWAfT. TEL: (965) 2449501, FAX, (965) 2412849 2046673407, With the domest:c Kiwait dinar market remaining strongly liquid, Al-Bader is hoping to fioat stock issues at monthly ri With seven companies already priva6zed, yielding KD 210 million ($709 million), he expects that this part of the program can be completed by 1998, <strong>and</strong> he can then turn his attention to the major utilltles . The Kuwait stock exchange is playing an inportant role . At present it trades shares in 51 companies <strong>and</strong> two mutual funds . Its current director gerera, Hisram S . AI-Otaibi, has been in the job for eight years <strong>and</strong> is aiso Chairman of `he Arab Union of Stock Exchanges <strong>and</strong> Sacur3ies Commission . He sees a good future . "We have a new trading floor," he says, "<strong>and</strong> increasing stock volume in recent weeks, which should continue . Economica :ly we are in very good shape compared to what we were ." THE OIL INDUSTRY No one had really expected that Kuwait's return to cil produc'.ion after the Icdulf War would have been so quick . i t:at the 700-odd oil fires snould have been ext!nguished in seven months was little sho': o` a miracle . Damage done to pipelines <strong>and</strong> oil instal!a'ions, along with wanton pollution, cost the country up to $75 billion . Yet'he countv, wi :h some 10% of world oil reserves, has the advantage of development costs that are among the lowest of the major producers . It also nas the highly prolific Burgan field . The Kuwait Petroieum Corporation IKPCI, which was established In 1980 <strong>and</strong> is the umbrel!a organization for the industry, ri the Kuwait Oil Co . (KOC), responsible for the exploration <strong>and</strong> production of oil <strong>and</strong> gas within Kuwait ; Kuwait National Petroleum Co . (KNPCi, the refinery <strong>and</strong> marketing arm ; Petrochemical Industries Co . (P!C), responsib!e for fert!!izers <strong>and</strong> petrochemicals ; <strong>and</strong> Kuwait Oil Tanker Co ., the transportation arm . Minister of Oil <strong>and</strong> Chairman of the Board of KPC H . E . Dr. Abdul Mohsen Medej ArMedej points out that within two years KPC was in a position to produce oil at the same rate as before the war - 2 million barrels a day . Of these, 1 .2 mil!ion are exported as crude, <strong>and</strong> 800,000 as refined - up from 700,000 prewar . __~
Oil is an essential component in economies around the world : driving industry <strong>and</strong> <strong>business</strong> ; sustaining communities ; touching all of our lives . Our experience in oil sourcing, processing <strong>and</strong> distribution is unrivalled . Our presence in the world unquestioned . Our heritage unmatched. ZI: Y e.iug._~!! Jg}i.s]f a swnà Kuwait Petroleum Corporation op http://legacy.library.ucsf.edu/tid/agf97d00/pdf
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ForbesS GUBUST 14. 1995 • VOLUME
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Sarah knows a lot about diabetes .
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ery fifty-6ce minutes Old Faithful
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There's a lot than you pro VISION.
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Commentary on events at home <stron
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One of the largest teams at the Oly
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Remember your first time driving al
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I Toshiba Multimedia /100, 0 sA1
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I ~ , I SOUNDS SO REAL, PEOPLE WILL
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Using phony invoices, importers are
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ADVERTISEMENT 2 THE SKYTEL U .S . C
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ADVERTISEMENT 4 The Golf Club of Ge
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Riviera Country Club, Pacijc Palisa
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ADb'ER'TISESiEVf 12 T H E S O U T H
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Wvnstone Golf Club, North Barringto
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WE CAN GIVE YOU VIRTUALLY EVERYTHIN
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204G6"13338 BUSINESS REPLY MAIL FIR
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One of the great success stories of
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Mylan Laboratories Making tablets i
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