Oil firms to grant annual bonus:

Oil companies have started the nomination procedures for granting annual bonus to employees for fiscal 2021/2022, which is expected to be disbursed within this month or in June, reports Al-Anba daily quoting sources.

Sources disclosed the bonus will be paid to 60 percent of the oil sector employees – about 13,000; indicating the employees must have a very good general rating in the job performance evaluation to be eligible for the bonus.

The daily obtained a copy of the circular stating that Kuwait Oil Company (KOC) started the nomination procedures on May 8. This came after the closing of the annual budget of Kuwait National Petroleum Corporation (KNPC) and its subsidiaries. The amount of bonus ranges from one month to two and a half months salary.