KazMunaiGas’ assets down since early 2015
Baku, Azerbaijan, Oct. 28
By Elena Kosolapova - Trend:
KazMunaiGas, the national oil and gas company of Kazakhstan, has seen a significant increase in its losses from January to September 2015.
KazMunaiGas is Kazakhstan's national operator for exploration, extraction, refining and transportation of hydrocarbons.
Net loss of KazMunaiGas during the reporting period was 665.359 billion Kazakh tenges (278.92 tenges = $1), according to the company's financial statements posted on the website of the Kazakhstan Stock Exchange (KASE).
The company's loss in the same period last year was 52.378 billion tenges.
KazMunaiGas' revenues during the first nine months of 2015 fell and stood at 246.425 billion tenges, while revenues in the same period last year were 356.099 billion tenges.
The operating income of KazMunaiGas from January to September 2015 amounted to 223.954 billion tenges, compared to 338.383 billion tenges in the same period 2014.
Meanwhile, the company's non-operating expenses rose significantly.
Assets of KazMunaiGas fell during the reporting period from 3.891 trillion tenges to 3.829 trillion tenges.
The company's liabilities rose from 2.499 trillion tenges, recorded at the beginning of the reporting period to 2.985 trillion tenges at the end of the same period.
The company's capital reduced during the reporting period to 843.87 billion tenges from 1.392 trillion tenges.
Edited by CN
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