Skip to comments.Gazprom Ranked World’s Most Profitable Company in 2011
Posted on 07/30/2012 4:05:27 AM PDT by cunning_fish
Russian energy giant Gazprom overtook U.S.-based energy major ExxonMobil in 2011 to become the worlds most profitable company, according to the latest edition of Forbes magazine published on Monday.
Gazprom netted $44.46 billion in profits last year, compared to $41.6 billion generated by ExxonMobil, which was the worlds most profitable company in 2010.
The Industrial and Commercial Bank of China ranks third in Forbes ratings with $32.2 billion in profits.
Gazprom CEO Alexei Miller told the companys annual meeting of shareholders in late June that the Russian energy giant was the worlds leader in revenue for the second consecutive year and was second in output among all global oil and gas companies.
Forbes previously published a list of the worlds 25 largest oil and gas companies in 2012, in which Gazprom ranked second only to Saudi Arabia's Aramco.
Gazprom reported a 35 percent year-on-year increase in its 2011 IFRS net profit to 1.307 trillion rubles ($44.6 billion). Gazproms natural gas output grew by 0.9 percent in 2011 to 513.2 billion cubic meters, and its exports to Europe rose by 8.2 percent to 150 billion cubic meters.
(Excerpt) Read more at en.rian.ru ...
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