The first full year's production from the Kupe oil and gas field enabled Genesis Energy to lift its full-year operating earnings 18 per cent in the teeth of a tough year in the electricity sector.

Genesis Energy, the state-owned firm, is riding high these days. The incorporation of Kupe oil and gas processes has done a world of good for the company, as its production for the first full year has escalated many a miles since then.

According to latest reports released by the company, it's earning for the first full-year processes has towered 18%, and this has happened when genesis is limping through a lean patch of adversity caused by electricity chaos.

Yesterday, the company revealed its brief tale of success inspired by a net income of $292.6 million, against a meager $248.8 million in 2010. However, the announced income included various upcoming expenditures, including tax, interest, depreciation, valuation, amortisation, etc.

In addition, it consisted of a net involvement of $54 million from its operations in the field of petroleum. The earnings reported an upsurge from $17 million in 2010. The positive trend is, by far, attributable to Kupe field operations. Kupe field is 31% acquired by the state-owned Genesis, and it has provided a much needed boost to its full-year earnings and market value.

The user base for Genesis has also swelled to a massive 661,500, against last year's 643,700.