Q1 2011 KazMunaiGas Exploration Production net profit 14% up against 2010 10 мая 2011, 16:18
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Net profit of KazMunaiGas Exploration Production in the Q1 2011 made up $403 million, 14% up against 2010, the Company’s press-release reads.
The Company’s revenues in the Q1 grew by 31% ($1.3 billion) against the like period of 2010. The growth was mostly spurred by 33% oil sales price growth (from $64.64 to $86.61 per barrel).
KazMunaiGas Exploration Production was established in March 2004 and is among the top three oil producers in Kazakhstan. Ordinary and preferred shares of KazMunaiGas Exploration Production are listed on the Kazakhstan Stock Exchange, and its global depository receipts (GRDs) are listed on the London Stock Exchange. Through National Company KMG, the state owns 60% of KMG EP’s shares. KazMunaiGas Exploration Production is developing 41 fields in Western Kazakhstan. The Company is the largest taxpayer in Kazakhstan.
KazMunaiGas Exploration Production