ASTANA, Kazakhstan, August 27. Kazakhstan's leading oil and gas company, KazMunayGas (KMG), recorded a net profit of 550 billion tenge ($1.13 billion) in 1H2024, Trend reports.
According to the company's latest financial statement, this marked a surge year-on-year from 488 billion tenge ($1 billion).
Moreover, KMG reported a notable improvement in its free cash flow, a crucial indicator of financial health. The company's free cash flow amounted to 604 billion tenge ($1.2 billion) in 1H2024, which show an increase compared to 217 billion tenge ($448.8 million) in the same period last year.
On the debt front, KMG disclosed its total debt as of June 30, 2024, standing at 4 trillion tenge ($8.27 billion), reflecting a modest increase from the figure reported at the end of December 2023, which was 3.757 trillion tenge ($8.265 billion).
Furthermore, the company's net debt as of June 30, 2024, amounted to 1.573 trillion tenge ($3.253 billion), compared to 1.645 trillion tenge ($3.620 billion) at the end of December 2023.
Meanwhile, the volume of sales of KazMunayGas' own-produced oil and gas condensate amounted to 12.114 million tons from January through June 2024, of which 65.4 percent was exported. The sales volume decreased by 0.4 percent compared to the same period in 2023.