Kazakh KazMunaiGas decreases net income by 13.6 percent in 2012
Azerbaijan, Baku, May 6 / Trend E. Kosolapova/
Kazakh National Oil and Gas Company KazMunaiGas has decreased net income by 13.6 percent in 2012, Novosti-Kazakhstan reported with the reference to the company's consolidated audited financial statements under IFRS.
KMG's net profit hit 413.4 billion tenge (151.07 tenge = $1) in the reporting period compared to 478.7 billion tenge in 2011.
Company's revenue in 2012 increased by 12.8 percent to 2.960 trillion tenge, gross profit - by 10.2 percent to 869.6 billion tenge, operational profit - by 20.2 percent to 280 billion tenge.
In the reporting period, KMG's assets increased by 10.6 percent to 6.834 trillion tenge, liabilities - by 7.5 percent to 3.240 trillion tenge, equity capital - by 13.6 percent to 3.594 trillion tenge.
KazMunaiGas is the Kazakh national operator for exploration, production, refining and transportation of hydrocarbons, representing the state interests in Kazakhstan's gas and oil industry. KazMunaiGas is wholly owned by the state through Samruk-Kazyna National Wealth Fund.