Rising costs hit bottom line for KazMunayGaz

摘要

KAZAKHSTAN'S KazMunayGaz was unable to increase its net profit at a similar pace with revenues last year, as its bottom line was hit by rising production costs, higher taxes and purchasing costs. The state-controlled oil and gas producer and pipeline operator's financial report for 2022 showed gross revenues jumping to 8.7 trillion tenge ($18.7 billion), up 34% from last year, but net profit for the period grew just by 2%, to 1.3 trillion tenge.