UPDATE 1-KazMunaiGas EP first-half net profit falls 68 pct
ALMATY Aug 14 (Reuters) - KazMunaiGas Exploration Production (KMG EP), Kazakhstan's fourth-largest oil producer, said on Wednesday its first-half net profit fell 68 percent, year-on-year, mainly due to an impairment charge recognised in the first quarter.
The net profit came in at 38.8 billion tenge, or $257 million, on revenue of 384 billion tenge, which decreased 4 percent due to a drop of oil price and lower export volumes, the company said in a statement.
The additional impairment charge of 56 billion tenge which the company had to pay related mainly to the increase in export customs duty from $40 per tonne of oil to $60, it said in a statement.
KMG EP, the London-listed unit of Kazakh state oil and gas company KazMunaiGas, said that earnings per share dropped by 67 percent to 570 tenge per Global Depositary Receipt, in the first half of 2013 compared to January-June 2012.
The company, Central Asia's fourth-largest oil producer whose core oil deposits are located in the Mangistau region in western Kazakhstan, said last month its output grew by 1 percent in the first half of 2013 year-on-year to 6.1 million tonnes (249,000 barrels per day).
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