OQ8, the 50:50 joint venture between Kuwait’s KPI and Oman’s OQ brought in $1.97bn in revenues for 2023, despite only having started operations in March and exports only beginning in earnest in September (MEES, 9 February).

In fact, almost all 2023 revenues were recorded in the final four months of 2023, ramping up from $400mn to end the year at $550mn for December. No breakdown of costs is provided, but the firm’s freshly-released 2023 sustainability report quotes a figure of $186mn for 2023 Opex. (CONTINUED - 747 WORDS)