31 July 2012

Forbes magazine says Gazprom's the most profitable company worldwide in 2011

Gazprom has become the world’s most profitable company in 2011, according to Forbes magazine latest rating. The company netted $44.46 billion in profits in 2011, overtaking last year’s leader Exxon Mobil, which made a profit of $41.6 billion.

Earlier, in another Forbes rating, Gazprom was ranked 2nd in the list of 25 largest oil and gas companies in the world.

At the annual meeting of shareholders of Gazprom in June it was noted that the company for the second consecutive year is ranked first in the world by revenue, and second among oil and gas companies by volume of production. The company’s revenues reached 4.637 trillion rubles (about 154.56 billion USD). Production in 2011 rose by 0.9% to 513.2 billion cubic meters. Exports to Europe rose by 8.2% to reach 150 billion cubic meters. Gas supplies to neighboring countries increased by 3.08 billion cubic meters to reach 71.1 billion cubic meters. 

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