ASTANA, Kazakhstan, October 12. The net profit of Kazakhstan's Samruk-Kazyna JSC group of companies is expected to be 1.8 trillion tenge (about $3.77 billion) in 2023, said Co-Managing Director for Economics and Finance Mirat Utepov, Trend reports.
"According to preliminary estimates, the net profit of the Samruk-Kazyna JSC group of companies for 2023 is expected to be 1.8 trillion tenge, which, taking into account the current situation in the oil and gas markets and the measures taken to improve production indicators, is a good result," he said.
According to Utepov, profit was negatively affected by several factors.
"The first is the decline in oil prices. Currently, the price of a barrel of oil is around $80, while in 2022 it was around $105. Secondly, the decline in prices led to a decrease in the volume of gas exported by Kazakhstan. At the same time, there is an increased demand for gas within the country," he said.
Among the positive aspects, Mirat Utepov noted a significant increase in cargo transportation volumes, an increase in tariffs for international and transit transportation, as well as an increase in revenue from the sale of uranium products.
Samruk-Kazyna JSC is a Kazakh investment holding created in 2008 to improve the national welfare of Kazakhstan and carry out work to modernize its economy.
The sole shareholder is the government of Kazakhstan.