KazMunaiGas Q1 net profit rises to $810m
ASTANA – Kazakhstan's state oil and gas firm KazMunaiGas said on Wednesday its consolidated net profit stood at 118 billion tenge ($810 million) in the first quarter of 2011, rising 78 percent from the same period in 2010, Reuters reported.
The results include the performance of the company's London-listed subsidiary KazMunaiGaz Exploration Production.
KazMunaiGas EP, the Central Asian nation's No. 2 oil producer, said on Tuesday its net profit for the three months ended March 2011 grew by 14 percent compared to the first quarter of 2010 and stood at 59 billion tenge ($403 million).
KazMunaiGas said its output of crude oil and gas condensate grew by 2 percent in year-on-year terms in the first quarter to reach 5.4 million tonnes. It said it processed 3.6 million tonnes of crude in the first three months of 2011.
KazMunaiGas has said its net profit more than doubled to 397 billion tenge ($2.7 billion) in 2010 from 189 billion a year earlier.
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