Gazprom Reports Surge in Q1 Operating Profit
Posted on: Thursday, 23 October 2008, 09:00 CDT
Russian gas major Gazprom has reported operating profit of RUB365.63 billion for the first quarter ended March 31, 2008, compared to RUB209.79 billion for the same period of 2007.
The company reported net natural gas sales of RUB595.79 billion for the three months ended March 31, 2008, a 39% increase compared to the same period of 2007.
Net sales of oil and gas products increased by RUB56.59 billion, or 54%, in the three months ended March 31, 2008. The increase was mainly due to the increase of oil and gas product prices.
Gazprom reported that net sales of crude oil and gas condensate increased by RUB25.60 billion, or 79%, in the first quarter of 2008. The coampny reported operating expenses of RUB537.32 billion for the first quarter of 2008, a 34% increase compared to the same period of 2007.
Source: Datamonitor
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