Dear Shareholders,
On behalf of the Board of Directors of the Independent Petroleum Group Company K.S.C.P.,
I am pleased to present the 49th Annual Report and consolidated financial statements to
the Shareholders of IPG for the year 2025.
As a continuation of 2024, the oil markets in year 2025 faced difficult challenges due to sanctions leading
to higher prices and concerns over petroleum product supplies. Even the logistics market in the petroleum
sector was turbulent. Crude oil and petroleum products’ prices fluctuated intermittently during 2025 due
to the geopolitical disruptions, and it caused constraints on Finance and Marketing. Forecasting future
directions has become unpredictable.
Nevertheless, the year 2025 was another successful year for The Group, generating solid revenues.
Performance figures reveal a net profit of 10.171 million KD, equivalent to 56.26 fils per share, an increase
of 12.85% over that of the year 2024.
The Group continued to pursue the core activities in its traditional as well as in the new markets. Challenges
in the market are not uncommon, however, The Group was able to maintain its approach of minimizing risk
and improving margins. We believe the staff and Management inThe Group are well experienced to meet
such challenging business environment.
I would like to thank all our employees for their efforts and valuable contributions during the year. As always,
we remain focused on operating responsibly and ethically as well as trying to provide sustainable long-term
value for all our shareholders.
The Board of Directors continues to follow the policies and regulations of Corporate Governance. The
attached report highlights the achievements of the year 2025.
The Board of Directors express their thanks and appreciation to all shareholders for their confidence in the
efforts of The Group.
Ali M. Al-Radwan
Chairman of the Board of Directors