BAKU, Azerbaijan, September 8. Kazakhstan's KazTransOil increased the shipment of Kazakh oil for export by 2.372 million tons from January through August, compared to the same period in 2022, a source at the KazTransOil told Trend.
In the first eight months of 2023, the total volume of oil shipped for export amounted to 10.468 million tons.
KazTransOil is the country's national oil transporter, accounting to 53 percent of all oil transported in the country. The company operates more than 8000 km of oil pipelines and 3,140 km of water pipelines. KazTransOil is a subsidiary of KazMunayGas, the national oil and gas company of Kazakhstan.
KazTransOil transported 11.538 million tons of oil to the domestic market of Kazakhstan from January through August, which is 477,000 tons less compared to the same period in 2022.
In addition, the company increased oil transit through the main oil pipeline system. Thus, from January through August 2023, 6.739 million tons of oil were transited through the main oil pipeline system of KazTransOil, which is 109,000 tons more compared to the same period in 2022.
The consolidated revenue of Kazakhstan's KazTransOil national company amounted to $296.2 million from January through June 2023. According to the data received from the company, this figure has increased by 17.6 percent year-on-year. Moreover, KazTransOil's consolidated net profit for the reporting period of the current year made $44 million, which is by 28.4 percent higher than over the same period of 2022.
KazTransOil's non-consolidated revenue for the first half of 2023 amounted to $242.3 million, which is an increase of 16.8 percent year-on-year. At the same time, non-consolidated net profit of KazTransOil from January through June 2023 totaled $18.6 million - down by 8.2 percent, compared to the first half of 2022.