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Wednesday, 07 January, 2009, 21:40 GMT | more >>

Gazprom to show profits jump



By Upstream staff 

Russia’s Gazprom will announce a 69% year-on-year increase in net profit for 2006 at $13.39 billion when it meets in Moscow today for its annual general meeting.

Gazprom will also unveil capital expenditure of $10.78 billion, a 46.5% increase on the previous year, the company said in a statement.

Natural and associated gas production of 556 billion cubic metres remained largely flat last year compared to 2005, it said.

However, oil and condensate production of 45.4 million tonnes, or 334 million barrels of oil, represented a 257% increase on the previous year due to output from the three Gazprom Neft fields.

"2006 was the first year after Gazprom's share market liberalisation and during this period our capitalisation increased by over 70% to $270 billion by the end of the year, making Gazprom the largest company in Europe by this measure,” chairman of Gazprom’s boar of directors Dmitry Medvedev said.


Friday, 29 June, 2007, 04:52 GMT  | last updated: Friday, 29 June, 2007, 06:55 GMT

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