Kazakh Mangistaumunaigas reduces net income by 12.3 percent
Baku, Azerbaijan, May 14
By Elena Kosolapova - Trend:
One of the largest Kazakh oil companies Mangistaumunaigas reduced net profit by 12.3 percent to 137 billion tenge (182.02 tenge = $1) in 2013 compared to 2012, Novosti-Kazakhstan reported on May 14 with the reference to the company's consolidated financial statements under international financial reporting standards (IFRS).
The company's revenue in the reporting period increased by 1 percent to 643.1 billion tenge, gross profit remained at 443.4 billion tenge as it was in 2012.
The company's assets grew by 9 percent to 325.6 billion tenge, liabilities increased by 24 percent to 144.4 billion tenge in 2013.
Equity capital decreased by 0.6 percent to 181.3 billion tenge.
Mangistaumunaigas is one of the largest oil and gas companies in Kazakhstan. The company has 36 oil and gas fields, 15 of which are under development.
The main shareholder of Mangistaumunaigas is Mangistau Investments BV, owned on a parity basis by Kazakhstan's national oil and gas company KazMunaiGas and China's CNPC.