KazMunaiGas EP Profit Fell 23% Last Year on Charge, Costs

KazMunaiGas Exploration Production (RDGZ), the oil unit of Kazakhstan’s state energy company, said full- year profit slid 23 percent after writing down assets and on higher costs.

Net income for 2012 of 161 billion tenge ($1.1 billion) compared with profit of 209 billion tenge the previous year, the Astana-based company said today in a statement.

Revenue rose 11 percent on higher export volumes and domestic prices.

To contact the reporter on this story: Nariman Gizitdinov in Almaty at ngizitdinov@bloomberg.net

To contact the editor responsible for this story: Steve Voss at sev@bloomberg.net

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