KazMunayGas consolidated net profit fell almost 30% in 2023According to IFRS, the consolidated net profit of National Company KazMunayGas JSC decreased by 29.2% to 924 billion tenge year-over-year, the company said in a statement.Revenue dropped by 4.3% to 8.32 trillion tenge.“Revenue dynamics were negatively impacted by an 18.4% decrease in the average Brent price for crude oil in 2023 compared to 2022”, the company explained.EBITDA in the reporting period decreased by 21.4% and amounted to 1.995 trillion tenge."EBITDA for 2023 amounted to 1,995 bln tenge and decreased by 21.4% mainly due to a decrease in the segment of oil and gas exploration and production by 21.9%. The reduction was due to a decrease in the average Brent price for crude oil," the press release said.Net profit adjusted for the share in profit joint ventures and associates increased by 29.9% to 1.01 trillion tenge.Free cash flow decreased by 11.8%, to 984 billion tenge.The company's net debt as of December 31, 2023 decreased by 23.6% and amounted to 1.645 billion tenge.KazMunayGas is the Kazakh national operator for exploration, production, processing and transportation of hydrocarbons, representing the interests of the state in the oil and gas industry. (ICE ALMATY)

Fonte notizia: INTERFAX