(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,
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.
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.