Oil prices at USD 50-60 per barrel to ensure stability of KazMunaiGaz
ALMATY. October 7. KAZINFORM /Daniyar Sikhimbayev/ After the specification of the national budget the average oil price for KazMunaiGaz was defined at USD 50 per barrel. In this case revenue side of the company's budget is expected to make KZT 1.8 trln while its net profit will make KZT 198 bln. Tax revenues will comprise KZT 370 bln, Chairman of the Board of KazMunaiGaz Kayrgeldy Kabyldin has said at KIOGE-2009 conference in Almaty. "Last year the oil and gas company reached record indices in its activity. The revenue part of the company made KZT 3.2 trln, net profit - KZT 300 bln and KZT 560 bln of tax revenues. The financial crisis significantly impacted the corporate incomes; its initial budget was calculated in consideration with USD 40 per barrel of oil. Last year the average oil price for the company was USD 90 per barrel", he said.