BAKU, Azerbaijan, May 29. The net profit of Kazakhstan's national company, KazMunayGas, amounted to 288 billion Kazakh tenge ($632 million) in the first quarter of 2023, Trend reports.
The company's financial report said this figure is 13.4 percent less than the results of the same period last year - 332 billion Kazakh tenge or $726 million.
The company's overall revenues accounted for 1.8 trillion Kazakh tenge ($4.1 billion) which is 13.5 percent less compared to 2.1 trillion Kazakh tenge ($4.7 billion) in the first quarter of last year.
During the reporting period, KazMunayGas recorded a negative free cash flow of 53 billion Kazakh tenge ($116 billion) compared to positive free cash flow of 162 billion Kazakh tenge ($355 million) in the same period last year. This indicates a 132.4 percent decrease over the year.
The company's volume of oil and gas condensate production increased by 8.7 percent and amounted to 5.9 million tons in the first quarter of 2023, while the volume of oil transportation amounted to 18.8 million tons.