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ASSETS OF THE NATIONAL OIL COMPANY " KAZAKHOIL" ARE ESTIMATED IN $1 BILLION 974,3 MILLION

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16:58 13.09.2001
text: "Kazakhstan Today"
views: [178]

Assets of the NOC " KazakhOil" at the end of 2000 year formed $1 billion 974 million 336 thousand. In comparison with 1999 year the growth formed $322 720 thousand. These figures were announced by the press service of the company. Consolidating financial accounting is confirmed by the audit company " Ernst& Young".

Net profit of the company for 2000 year formed $179 million 543 thousand in comparison with beat for 1999 in the size of $56 390 thousand. As was announced in the message, the sum of net benefit is consolidated size and reflects the results of the activity of all joining to the company establishments.

Owned capital has increased on $178 175 thousand in comparison with 1999 and formed $967 316 thousand. Debit debt on the accounting with the customers formed $144 577 thousand and increased on $53 702 thousand at the expense of growth debts of the CPC to the establishment of the company - " Kazakhstan Pipeline Ventures", and also increasing of debit debts to the branches oil mining establishments in connection with the growth of the volume of production's realization.

Credit debts in the accounting with delivers increased in comparison with 1999 year not considerably, on $9 633 thousand and formed $56 178 thousand. Benefit from production's realization formed $839 300 thousand, that on 45,6% higher of last year. Expenses in taxes increased on 88% and formed $59 058 thousand. Reserve in doubtful debts decreased in 8,5 times. This decrease reflects correction of highest sum of the reserve at the end of 1999 in the size of $6 986 thousand, so planning work of the company in the work with debits.

In 2000 transport expenditures and expenses on realization in connection with increasing of volumes of realized production have increased. They formed $ 120 835 thousand.

" Showing analyze of the financial report of the company for 2000 is given without taking into consideration influence of the financial report of " TchO". According to the initiative of the " KazakhOil" share state holding in " TchO" was taken away from authorized capital of the company and from the beginning of 2002 financial results of the " TchO" won't be consolidated with the financial report of the " KazakhOil" and influence on its results. Accomplishing of the operator's role, " KazakhOil" owns with control share holding in such establishments, as " Uzenmunaygas", " KazakhOilEmba", "Atirau refinery ".