VOL. XLVII

No 06

09-February-2004

CASPIAN

Kazakhstans State Oil Company Reports Increased Profits For 2003

KazMunaiGaz, Kazakhstans state-owned oil and gas company, reported net profits for 2003 totaling 69.1bn tenge, ($511.2mn), an increase of 18.9% over the previous years earnings, according to the Russian news agency Interfax. KazMunaiGaz reported total revenue of 399bn tenge ($2.95bn) during the year, while capital investment amounted to 58.5bn tenge ($432.79mn), including an investment in...