ASTANA, Kazakhstan, June 20. Kazakhstan’s national oil and gas company, JSC NC KazMunayGas (KMG), reported $2.55 billion in free cash flow for 2024—an 18.4 percent year-on-year increase—while transferring $3.84 billion to the state budget and National Fund, Trend reports.
The organization’s performance metrics for 2024 and strategic
initiatives for 2025 were articulated during a convening of the
Public Council of JSC Samruk-Kazyna by Asset Magauov, Deputy
Chairman of the KMG Management Board.
KMG presently constitutes 27 percent of Kazakhstan's hydrocarbon
output, 57 percent of petroleum logistics, and 80 percent of
domestic refining capacity. Alongside its monetary allocations, the
enterprise allocated $7.11 million towards regional infrastructural
enhancements and $871.03 million towards developmental initiatives
throughout the fiscal year.
The organization has strategically optimized its capital structure,
achieving a substantial contraction in its leverage metrics, as
evidenced by a decrease in the net debt-to-EBITDA ratio from 0.82
in the fiscal year 2023 to an unprecedented low of 0.58 in
2024.
Subsequent to its initial public offering, KMG has experienced a
remarkable appreciation in its equity valuation, surging by an
impressive 93 percent. Dividend disbursements were sustained at
$576.84 million in the fiscal year 2024, with strategic intentions
to uphold this financial metric at the same threshold in 2025.
