KazMunaiGas Exploration Production's revenue for the first nine months of 2017 was up 29% year-on-year at Tenge 666bn ($2,059m). It said this was largely a result of a 24% increase in the price of Brent, a higher share of export sales and the switch to the processing scheme in April 2016, partly offset by a 6% decrease in the average tenge-US dollar exchange rate. Net profit for the first nine months of 2017 was Tenge168bn ($521m) compared with Tenge76bn (US$220m)a year ago. Net cash generated from operating activities was Tenge184bn (US$570m) compared to Tenge108bn (US$314m) last time. EBITDA for the first nine months of 2017 was Tenge181bn (US$559m) compared with Tenge123bn (US$359m) in the corresponding period of 2016. The group had net cash at 30 Sep of Tenge1,360bn (US$4.0bn) compared with Tenge1,172bn (US$3.5bn) at the end of 2016. KMG EP, including its stakes in Kazgermunai, Karazhanbasmunai and PetroKazakhstan Inc, produced 8,884 thousand tonnes of crude oil (240 kbopd) in the first nine months of 2017, a 3% decrease over the same period of 2016.
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