30 Sep 2009 12:56

KazMunayGas sees net profit fall 61.5% in H1

ALMATY. Sept 30 (Interfax) - Kazakh national oil and gas company KazMunayGas (KMG) saw net profit tumble 61.5% to 104.131 billion tenge in the first half of 2009 from 271.224 billion rubles in the same period of 2008, the company said in a report.

Sales revenue fell to 717.621 billion tenge in the half from 1.009 trillion tenge a year earlier.

The company's assets were worth 4.644 trillion tenge at the end of June 2009 compared to 3.899 trillion tenge at the end of 2008. Liabilities rose to 2.306 trillion tenge in the period from 1.872 trillion tenge.

KMG boosted equity to 2.338 trillion tenge from 2.028 trillion tenge, while charter capital remained unchanged at 158.049 billion tenge.

The results as of the end of June 2009 are unaudited, while the results for the end of 2008 are audited.

KazMunayGas is Kazakhstan's national operating company for exploration, production, refining and transportation of hydrocarbons and is the state's representative in the oil and gas sector. The company is wholly-owned by Samruk, the holding company that manages state assets.

The official exchange rate on September 30 was 150.95 hryvni/$1.