Bloomberg News

KazMunaiGaz National Boosts 2011 Profit 24% to $2.6 Billion

February 02, 2012

Feb. 2 (Bloomberg) -- KazMunaiGaz National Co., Kazakhstan’s state oil and gas producer, said it boosted profit 24 percent last year to 379.2 billion tenge ($2.6 billion).

Crude oil and gas condensate output fell 4 percent to 21.1 million metric tons last year, missing the 2011 target by 5 percent, KazMunaiGaz said in a statement distributed today to reporters in the Central Asian nation’s capital, Astana.

This year, oil output may reach 21.9 million tons, and profit may reach 300 billion tenge, Managing Director Daniyar Berlibayev said today in Astana.

--Editor: Torrey Clark

To contact the reporter on this story: Svetlana Antoncheva in Astana, Kazakhstan at santoncheva1@bloomberg.net

To contact the editor responsible for this story: Hellmuth Tromm at htromm@bloomberg.net -0- Feb/02/2012 06:41 GMT


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