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Razvedka Dobycha KazMunayGaz AO (KMGq.L)

KMGq.L on London Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Kazakh KMG EP H1 profit soars on higher oil price
Thursday, 17 Aug 2017 02:09am EDT 

Aug 17 (Reuters) - Kazakh oil producer KazMunaiGas Exploration and Production , KMGq.L said on Thursday: :Net profit for first six months of 2017 was 88 billion tenge ($276 million) compared to 17 billion tenge ($50 million) in same period of 2016;.Revenue for first six months of 2017 was up 39 percent year-on-year and amounted to 437 billion tenge;.The increase in net profit was due to a 30 percent rise in the Brent price LCOc1, the switch to the independent processing scheme starting in April 2016, reversal of previously accrued VAT allowance and an increase in the share of results of associate and joint ventures..  Full Article

Kazakh KMG EP H1 oil output falls 3 pct
Thursday, 27 Jul 2017 02:17am EDT 

July 27 (Reuters) - KazMunaiGas Exploration and Production , KMGq.L:Produced 5.885 million tonnes of crude oil (240 kbopd) in first six months of 2017.Output fell 3 percent over the same period of 2016.  Full Article

Kazakh KMG EP buys stake in small field from Hungary's MOL
Friday, 16 Jun 2017 12:08am EDT 

June 16 (Reuters) - Kazakhstan's KazMunaiGas Exploration and Production , KMGq.L says::Buys 49 pct share in Karpovskiy Severniy LLP from MOL Hungarian Oil and Gas Plc. for $1;.Says exercised its priority right;.Now fully owns Karpovskiy Severniy;.Had sold the 49 pct stake to MOL in 2012 with the intention of jointly developing the small oil and gas field..  Full Article

KazMunaiGas EP more than doubles first-quarter profit
Thursday, 27 Apr 2017 02:32am EDT 

April 27 (Reuters) - KazMunaiGas Exploration and Production KMGq.L:Reports 2017 first-quarter net profit of 2.3 billion tenge ($7 million) vs 0.9 billionn tenge a year earlier..Q1 revenue up 76 percent year on year at 214 billion tenge ($663 million)..Company attributes revenue leap largely to 58 percent Brent price increase and switch to a new oil processing scheme in April 2016..Recorded a foreign exchange loss of 59 billion tenge in the querter, hit by tenge weakness against the dollar..  Full Article

Kazakh KMG EP Q1 oil output falls 5 pct y/y
Tuesday, 25 Apr 2017 02:00am EDT 

April 25 (Reuters) - KazMunaiGas Exploration and Production (KMG EP) , KMGq.L::Produced 2.904 million tonnes of crude oil (238,000 barrels per day) in Q1 2017, down 5 percent year on year..The lower levels of production were largely due to a natural decline in production of oil at PetroKazakhstan and fewer wells drilled at Ozenmunaigas..  Full Article

KMG EP board proposes cash dividend, approves higher capex
Wednesday, 12 Apr 2017 03:56am EDT 

KazMunaiGas Exploration and Production (KMG EP) says: Based on 2016 results the board has recommended a dividend per ordinary and preferred share at 289 tenge; the company paid no dividend from 2015 profit; .Board of directors has approved an increase in capital expenditure for 2017 to 133 billion tenge ($427 million), 12 percent above previous guidance..  Full Article

Kazakh KMG EP 2016 profit drops after 2015 fx gain, revenue up
Friday, 17 Feb 2017 02:15am EST 

KazMunaiGas Exploration and Production : Net profit in 2016 was 132 billion tenge ($385 million) compared with 244 billion tenge ($1.096 billion) in 2015 . The decrease in net profit is largely due to a foreign exchange gain of 449 billion tenge in 2015 . Revenue in 2016 was up 37 percent year on year and amounted to 727 billion tenge ($2.128 billion) .The increase is the result of the company's switch to a new processing scheme, as well as a 54 percent increase in the average tenge–US dollar exchange rate.  Full Article

Kazakh KMG EP 2016 oil output falls 2 pct
Friday, 27 Jan 2017 02:23am EST 

KazMunaiGas Exploration and Production (KMG EP) : Produced 12.154 million tonnes of crude oil (245,000 barrels per day) for 2016, a 2 percent decrease on 2015; . Lower output mainly due to natural decline in production at PetroKazakhstan. Further company coverage: [RDGZ.KZ] (Reporting by Olzhas Auyezov) ((Olzhas.Auyezov@thomsonreuters.com;)).  Full Article

Razvedka Dobycha KazMunayGaz AO proposes no dividend for 2015 - Reuters
Wednesday, 30 Mar 2016 10:16pm EDT 

Razvedka Dobycha KazMunayGaz AO:State-controlled Kazakh oil firm Kazmunaigas Exploration and Production (KMG EP) says its board has recommended paying no dividend for 2015 - Reuters."The decision not to pay dividends is caused by sharp decline in oil prices since end of 2014, as a result of which the company's cash flow and operating profit turned negative," it said in a statement.  Full Article

S&P downgrades Razvedka Dobycha KazMunayGaz AO rating
Tuesday, 23 Feb 2016 11:32pm EST 

Razvedka Dobycha KazMunayGaz AO:Says Standard and Poor's downgraded the long-term credit rating of the company from "BB+" to "ВВ".Outlook is "Negative".Rating actions regarding the company were taken as a result of the downgrading of the sovereign credit rating of the Republic of Kazakhstan on Feb. 19.  Full Article

Tengizchevroil restarts operations after toxic substance release

ALMATY Kazakhstan's biggest oil producer, Tengizchevroil, has restarted operations at its first-generation oil and gas separation plant which had been briefly suspended on Tuesday after a toxic substance was released, the company said.