“Gazprom” has sharply reduced its profit

Profit “Gazprom” for half a year has decreased in 11 times.

The profit of the Russian public joint-stock company “Gazprom” for the first 6 months of 2017 dropped 11 times, in comparison with the same period in 2016.

“Net profit of the parent company “Gazprom” in the first half of 2017 has slipped to almost zero – 17,376 billion – with 194,417 billion rubles in January-June of 2016, according to data of quarterly report”, – stated in the message.

According to the publication, financial performance could spoil the appreciation of the Euro against the Russian ruble, and carried out by the company revaluation of fixed assets which led to increase of depreciation and hence the cost.

It is noted that “Gazprom” in the first half of the year raised the estimate of production for the year to 453,6 billion cubic meters of gas. In the previous quarterly report, the company has indicated production assessment 442 billion cubic meters of gas. By the end of 2016, “Gazprom” has extracted 419,1 billion cubic meters of gas.

© 2017 – 2019, paradox. All rights reserved.