Baku, Azerbaijan, Nov. 27
By Rashid Shirinov – Trend:
Net profit of the Kazakh national company KazMunayGas for the first 9 months of 2018 increased by 43 percent year-on-year up to 648 billion tenge, according to the website of the company.
Also, revenues increased by 62 percent, amounting to 5.21 trillion tenge, while capital expenditures made up 272 billion tenge, which is 39 percent lower year-on-year.
As for the company’s output, in the first three quarters of 2018, oil and gas condensate production rose by 1 percent compared to the same period last year to 17.64 million tons. Oil transportation slightly increased by 0.4 percent up to 55.67 million tons.
At the same time, natural and associated gas production went up by 2 percent year-on-year, reaching 6.07 billion cubic meters. Gas transportation increased by 13 percent, amounting to 84 billion cubic meters.
KazMunayGas is Kazakhstan's national operator for exploration, production, refining and transportation of hydrocarbons, representing the state in the country's petroleum sector. As many as 90 percent of KazMunayGas shares are owned by the National Welfare Fund Samruk-Kazyna, and 10 percent – by the National Bank of Kazakhstan.
The company accounts for some 28 percent of the total crude oil and gas condensate production in Kazakhstan and 16 percent of natural and associated gas production.
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