Kuwait’s Burgan Company for Well Drilling, Trading, and Maintenance has reported an 84.6% year-on-year (YoY) profit decline during Q2 of fiscal year (FY) 2019/20, according to Zawya.

The company’s profit declined to KWD 149,870 in September, compared to KWD 973,400 in 2018.

In the first six months of FY 2019/20, the Kuwait-listed firm’s profit dropped 66.9% YoY to KWD 622,400.

Meanwhile, Kuwaiti oil production increased by 16,000 barrels per day (b/d) in October, reaching 2.674 million b/d, compared to 2.658 million b/d in the previous month.