UOP is a UIC associate playing a leading role in the energy industry through direct investments in the oil, gas and petrochemical sectors and alliances with leading institutions specializing in these fields.
UOP is a key producer of coating resins and unsaturated polyesters that are widely used in the manufacture of architectural and industrial paints, as well as fiber glass products.
UOP’s financial performance has improved during this year compared to that of last year; net profits grew by 119%, i.e. KD 0.33 million compared to a loss of KD 1.7 million during last year. Investment income recorded a hike by 118% to reach KD 252 thousand during 2009 compared to a loss of KD 1.4 million in the last year. The Company’s Management intends to double efforts for better results in tune with the favorable developments and conditions.
Al-Khorayef Company for Sale, Maintenance and Repair of Oil Production Equipment, a UOP associate, has been ranked first in 2009 for a major oil project tender. Such latter project is expected to yield a considerable profit for the company and, hence, reinforce its position in the local oil sector.
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