(MENAFN- Trend News Agency) BAKU, Azerbaijan, March 17. The net profit of
Kazakhstan's national oil and gas company 'KazMunayGas' (KMG)
amounted to 1.31 trillion Kazakh tenge ($2.85 billion) in 2022,
trend reports,
citing KMG.
This is an increase of 2.4 percent compared to the results
recorded in 2021.
Revenue generated by the KMG amounted to 8.68 trillion Kazakh
tenge ($18.84 billion) in 2022, which is an increase of 34.5
percent compared to 6.45 trillion Kazakh tenge ($15.16 billion)
revenue obtained in 2021.
Earnings Before Interest, Taxes, Depreciation, and Amortization
(EBITDA) increased by 25.9 percent to 2.53 trillion Kazakh tenge
($5.5 billion), compared to 2.01 trillion Kazakh tenge ($4.73
billion) a year prior.
KazMunayGas also revealed that operating costs increased by 58.4
percent to 1.14 trillion Kazakh tenge ($2.47 billion), mainly due
to the increase in employee remuneration.
Transportation and selling expenses were 205 billion Kazakh
tenge ($445 million), up 11.9 percent in year-over-year terms
KazMunayGas is the state-owned oil and gas company of
Kazakhstan. It was formed by the decree of the President of
Kazakhstan dated 20 February 2002 through the merger of Kazakhoil
CJSC and Oil&Gas Transportation CJSC.
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