KazTransOil pumps 2% more oil, doubles net profit in 2013
ALMATY. March 19 (Interfax) - Kazakh oil pipeline operator KazTransOil boosted net profit 90% in 2013 to 63.544 billion tenge compared with 2012, the company said in a statement, citing its International Financial Reporting Standards (IFRS) report.
The group's consolidated revenue totaled 190.21 billion tenge, up 33% from 2012, while profit before tax advanced 84% to 77.391 billion tenge.
The company has said that it transported 67.2 million tonnes of oil and oil products through its pipelines in 2013, up 2% from the year before. Consolidated freight turnover by the company came to 45.493 billion tonne-km in 2013, or 8% higher from 2012.
The transportation volume of oil and oil products exceeded the planned amount by 6% last year, while freight turnover was 4% higher.
KazTransOil is a natural monopolist on the market of oil transportation through pipelines. KazTransOil is owned by National Company KazMunayGas, which is part of National Wealth Fund Samruk-Kazyna.
The exchange rate on March 19 was 182.06 tenge/$1.