ASTANA, Kazakhstan, November 25. KazMunayGas JSC (KMG, Kazakhstan's national oil and gas company) has revealed the company's key corporate events in 2023, Trend reports.
Among them are:
- On March 9, 2023, the Standard & Poor's rating agency has confirmed the rating of KazMunayGas at the level of BB+, revising the forecast to stable;
- On April 26, 2023, KMG carried out full early repayment of Eurobonds in the amount of $500 million with a maturity date of 2025;
- On April 27, 2023, KMG has issued bonds in the amount of 50 billion tenge (about $108 million) with a period of 10 years and an interest rate of 0.5 percent to finance the project "Reconstruction and expansion of the main water pipeline "Astrakhan-Mangyshlak" 1st stage";
- On May 3, 2023, the Standard & Poor's rating agency has increased its assessment of the likelihood of government support from "high" to "very high"; the company’s rating remained unchanged;
- On June 21, 2023, KMG has issued a guarantee in favor of the Eurasian Development Bank as security for the fulfillment of obligations of Kazakhstan Petrochemical Industries Inc LLP (credit line amount – $150 million, loan term – 3 years);
- On June 22, 2023, the Fitch rating agency has upgraded KMG’s credit rating from "BBB-" to "BBB", outlook "stable";
- On June 26, 2023, KMG has completed the payment of dividends to shareholders for 2022. The total amount of dividends amounted to 300 billion tenge (about $650 million). The dividend amount per common share was 491.71 tenge ($1.07);
- In October 2023, KMG and TOTALENERGIES EP DANMARK A/S entered into a purchase and sale agreement to acquire a 100 percent stake in the authorized capital of Total E&P Dunga GmbH;
- In October 2023, Kazakhstan Petrochemical Industries Inc LLP began production of a new grade of polypropylene in the gas chemical complex;
- In November 2023, KMG received an updated ESG risk rating for 2022, which amounted to 32.3 points (previously 28.5 points);
- On October 26, 2023, Samruk-Kazyna and the National Bank of Kazakhstan entered into a purchase and sale agreement for 122 million common shares of the company. The deal is scheduled to be completed by the end of 2023.
The revenue of KazMunayGas amounted to 6.087 trillion tenge (about $13.439 billion) from January through September 2023. The KMG's net profit, taking into account the share of profits in jointly controlled enterprises and associated companies, amounted to 949 billion tenge ($2.095 billion).