Gazprom posts lower profit in Q1

Image courtesy of Gazprom
Image courtesy of Gazprom

Russian gas giant Gazprom posted on Wednesday a drop of 5.1% in its first-quarter net profit as operating expenses rose.

Gazprom’s net profit of 362.3 billion roubles ($5.6 billion) in the first quarter dropped from 382.1 billion roubles in the corresponding period a year before.

The Russian company’s revenue rose 5.4 percent to 1.74 trillion roubles.

According to Gazrpom, revenues grew on higher gas sales to Europe and other countries that rose to 58.1 billion cubic metres (bcm) in the first quarter as compared to 39.1 bcm in the first quarter of 2015.

Operating expenses for the quarter rose 24% to 1.45 trillion rubles. Gazprom attributed this rise to increased expenses for gas relating to an asset-swap agreement between Gazprom and Wintershall, a unit of BASF.

 

LNG World News Staff

Share this article

Follow LNG World News

Posted on August 10, 2016 with tags .

Events>

<< Apr 2019 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 1 2 3 4 5

Downstream 2019

Renowned as the most significant global meeting place for Downstream professionals…

read more >

Central and Eastern Europe SSLNG Forum

SSLNG projects are important for Central and Eastern Europe (CEE) because they offer opportunities for solving issues…

read more >

Klaipeda LNG Forum 2019

Klaipėda LNG forum 2019 organised by Klaipėda Science and Technology Park, Klaipėdos nafta and Embassy of the Netherlands will take place on the 15-16 May at Klaipėda Castle’s site hall, Lithuania.

read more >

Flame 2019

Flame is Europe’s largest gathering of midstream gas & LNG players, bringing together everyone who matters – from producers to utilities, purchasers, infrastructure providers, traders, regulators and policy makers.

 

More info

read more >