Revenue of Kazakhstan’s largest oil pipeline company plummets in 1Q2020
BAKU, Azerbaijan, May 30
By Nargiz Sadikhova - Trend:
Net profit of Kazakhstan’s largest oil pipeline company – KazTransOil JSC (KTO) – has amounted to 13.4 billion tenge ($32.6 million) in 1Q2020, which is 25.6 percent less than as of 1Q2019, Trend reports with reference to the company.
Consolidated revenue value of the company amounted to 56.8 billion tenge ($137.9 million) in 1Q2020, which is 5 percent lower than during 1Q2019.
The volume of oil transportation and handling by KazTransOil’s main pipelines amounted to 10.5 million tons in 1Q2020, which is 535,000 tons less than during the same period of last year.
The non-consolidated oil turnover amounted 8.9 billion ton-kilometers, which is 347 million lower than during the same period of last year. The consolidated oil turnover made 10.7 billion ton-kilometers, which is 538 million less than in 1Q2019.
The volume of oil transportation by KTO pipelines to Kazakh refineries amounted to 4 million tons, which is 77,000 tons more than during the same period of 2019.
KazTransOil is Kazakhstan’s largest oil pipeline company, which provides services on oil transportation on the domestic market and for export.
The company is an owner of the largest network of main oil pipelines and waterlines in the country, total length of which amounts to 5,376 km of oil pipelines and 1,975 km of water pipeline.
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