Revenues of “KazMunaiGaz” company decrease

Oil&Gas Materials 10 October 2017 13:15 (UTC +04:00)

Baku, Azerbaijan, Oct. 10

By Ali Mustafayev – Trend:

Kazakh oil company KazMunaiGaz faces significant decrease of income, caused by rising fuel prices in Russia, which is the main fuel importer for Kazakhstan.

“The "KazMunaiGaz" company sells gasoline with a profit of one tenge,” said the chairman of Kazakhstan Petroleum Association Bolat Auyetayev during the briefing "On the situation of petroleum products and coal in the Kazakh market", Today.kz reported.

He added that the supplies from Russia are of very low marginality, taking into account the increase of price on fuel by 16 percent in July-August, and in September.

“That means, that we work with a profit of 1 tenge or even less," Auyetayev said.