JPMorgan - KASE

9 months ended September 30, 2001
Upstream Downstream
Corporate
Services Consolidated
Revenue
Crudeoil ........................... 191,318 2,024 — 193,342
Refinedproducts .................... 7,916 256,858 — 264,774
Processing fees ...................... — 8,623 — 8,623
Interestandotherincome ............ 6,893 662 539 8,094
206,127 268,167 539 474,833
Expenses
Production .......................... 29,681 — — 29,681
Royalties and taxes .................. 30,748 — — 30,748
Transportation ...................... 34,218 — — 34,218
Refining ............................ — 14,606 — 14,606
Crude oil and refined product
purchases ......................... — 60,862 — 60,862
Selling ............................. 4,333 10,724 — 15,057
General and administrative ........... 17,501 14,792 3,062 35,355
Interestandfinancingcosts ........... 6,137 814 5,175 12,126
Depletion and depreciation ........... 17,167 7,171 280 24,618
Foreign exchange loss (gain) .......... 438 319 (322) 435
140,223 109,288 8,195 257,706
Income before unusual items .......... 65,904 158,879 (7,656) 217,127
Unusual item
Defense costs related to potential
takeover bid ...................... — — 6,000 6,000
Income before income taxes ........... 65,904 158,879 (13,656) 211,127
Income taxes
Current provision ...................... 55,001 11,202 1,174 67,377
Futureincometax ..................... (33,969) 30,270 — (3,699)
21,032 41,472 1,174 63,678
Minority interest ...................... — 1,153 — 1,153
Net income ............................ 44,872 116,254 (14,830) 146,296
Intersegment revenue ................. 143,291 13,026 — —
Included in the upstream crude oil revenue, for the nine months ended September 30, 2001, is
sales to one external customer in the amount of $80 million.
F-7