ASTANA, Kazakhstan, August 23. The national company of Kazakhstan, "KazMunayGas, has presented its interim consolidated financial report, Trend reports.
It was announced that revenue for the period amounted to 3 billion tenge ($8 million), which is 15 percent lower than the results of the first half of 2022. The 26 percent decrease in the average price of Brent crude oil from January through July 2023 year-on-year had a significant negative impact on revenue dynamics.
The share of profit from joint ventures and associated companies decreased by 26 percent to 400 billion tenge ($885 million), mainly as a result of a decrease in profit from Tengizchevroil by 139 billion tenge ($310 million), Mangistau Investments BV by 20 billion tenge ($45 million), and Caspian Pipeline Consortium by 18 billion tenge ($40 million).
The net profit of KazMunayGas decreased by 36 percent to 492 billion tenge ($1 million) compared to the first half of 2022. Analyzing the profit adjusted for the share in jointly controlled enterprises and associated companies, it decreased by 24 percent from 352 billion tenge ($782 million) to 266 billion tenge ($589 million).
Thus, the volume of oil and gas condensate production from January through July 2023 increased by 10 percent, reaching 11,860 tons. The volume of oil transportation also increased by 5 percent to 39,309 tons. The volume of processing of hydrocarbon raw materials at Kazakh and Romanian refineries increased by 4 percent to 10,109 tons.