In 2014 net profit of KazMunaiGas (KMG) company totaled 47 billion tenge ($263 million) against 142 billion tenge ($932 million) in 2013, reported the company’s press office.
The net profit dropped mainly because of significant devaluation in quarter 4, 2014, which was partially compensated by the difference from the exchange rate in quarter 1, 2014.
“The company received a profit from exchange rate from the foreign transactions worth 53 billion tenge ($296 million), thus, during this period total profit after tax totaled 100 billion tenge ($559 million),” reads the report.
In quarter 4, 2014 the company admitted a net loss of 195 billion tenge ($1,094,000) mainly caused by depreciation of assets of Ozenmunaigas worth 228 billion tenge ($1,274,000) and reduction of oil price, reported http://oilnews.kz.
