JSC KazTransOil's Net Profit Drops

The net profit of JSC KazTransOil, which transports Kazakh oil to the domestic market and for export, fell by almost five percent, Orda.kz reports.

According to the company's published data on KASE, its consolidated net profit for the first three quarters of 2024 amounted to 31 billion 653.6 million tenge, 4.9% less than from January to September 2023.

At the same time, KazTransOil's consolidated revenue increased by 9.8% over the same period to 230 billion 60.5 million tenge. The company has not disclosed details.

In 2023, KazTransOil's net profit was 32.8 billion tenge, and revenue was 290.4 billion tenge.

KazTransOil is a company that provides oil transportation services, builds pipelines, organizes the transportation of Kazakhstan's oil through pipelines of other countries, etc.

The company's primary oil pipelines total more than 5.3 thousand kilometers. It controls 36 oil pumping stations and tanks with a total volume of over 1.3 thousand cubic meters. KazTransOil is 90% owned by KazMunayGas.

In August, we reported that KazTransOil temporarily reduced tariffs for pumping oil through main pipelines – only to raise them later.

Original Author: Nikita Drobny