EnergyWatch

Gazprom delivers bottom line bonanza during oil crisis

The operating result was historically high and there was plenty of money in the pockets of Russian energy giant Gazprom's subsidiary in 2016. However, there are various explanations on top of a huge oil deficit in 2016.

While oil executives across the board have likely spent a gloomy 2016 wishing they had embarked on careers in calmer industries, there is one oil company actually experiencing cause for celebration.

Russia's Gazprom Neft, a subsidiary of Gazprom, increased its bottom line by 82 percent during 2016, up to RUB 24,2 billion (EUR 396 million).

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

WindEurope warns against negative auction bids

If more countries introduce negative bids, where firms pay to establish wind projects, it could lead to higher electricity bills or more pressure on the supply chain, says the industry association.

Equinor exits Russia

Norwegian oil company Equinor has taken its final step out of the Russian market by transferring joint venture assets to Rosneft.

BW Offshore halved bottom line in Q1

The Norwegian firm reports decline in several items compared to the same quarter of 2021 but predicts fine advancement in the rest of 2022, for which both floating wind projects and high energy prices show promise.

Further reading

Related articles

Latest News

See all jobs