In January 2023 we commenced oil trading in response to a change in the Kazakh oil trading regulations.
We fund the refining of oil produced from our assets and sell the resulting oil products.
To provide separate funding for the oil trading venture we have established a 70:30 partnership with an experienced trader with the Group holding the majority stake.
In 2023, our first year of operations, we generated income of approximately $10.3 million, gross profit of approximately $4.9 million and profit before tax of approximately $2.3 million.
In due course we may look to trade oil produced by third parties and other commodities
