Source Pravda.Ru

Gazprom posts Q1 net profits

Net profits of the Russian gas monopolist Gazprom amounted to RUR66.8billion (about $2.19bn) in the first quarter of 2003. As the press service of the company reported, head of the holding's department for property management and corporate relations Alexander Krasnenkov made a corresponding statement at a meeting of Gazprom's delegation with the company's shareholders in Ufa (the Bashkir Republic of Russia). Official financial statements of the gas holding for 2002 have not been released so far. However, 2002 net profits are forecasted to reach RUR105bn (about $3.45bn).

Additionally, Krasnenkov pointed out that according to the estimates of DeGolyer & MacNaughton, an independent international auditor, the value of only 82 percent of Gazprom's hydrocarbon reserves amounts to $49.4bn, or RUR65 (about $2.13) per share. This is almost twice as much as the current market share price.

Krasnenkov reported that Gazprom was going to sell its non-core assets at auctions. It is planned to put a number of gas equipment producers and agricultural companies for sale. In 2003, Gazprom is expected to sell RUR6bn (abut $196.97m) in non-core assets.

© &to=http://www.rbc.com' target=_blank>RBC

Comments
The Netherlands and Australia officially accuse Russia of downing MH17 over Donbass
World leaders unite with Russia at St. Petersburg International Economic Forum
Blame MH17 on Russia: International investigation turns into demonic circus
The Royal Wedding and the Silly Season
Skripals fall under heavy British pressure
World leaders unite with Russia at St. Petersburg International Economic Forum
Blame MH17 on Russia: International investigation turns into demonic circus
World leaders unite with Russia at St. Petersburg International Economic Forum
Skripals fall under heavy British pressure
Russian spy Sergei Skripal recovers from chemical poisoning completely
The Netherlands and Australia officially accuse Russia of downing MH17 over Donbass
Blame MH17 on Russia: International investigation turns into demonic circus
Blame MH17 on Russia: International investigation turns into demonic circus
World leaders unite with Russia at St. Petersburg International Economic Forum
Blame MH17 on Russia: International investigation turns into demonic circus
Blame MH17 on Russia: International investigation turns into demonic circus
Blame MH17 on Russia: International investigation turns into demonic circus
Beautiful and terrifying: Russia shows video of Bulava ICBM underwater salvo launch
London will beg Moscow for forgiveness
London will beg Moscow for forgiveness
Blame MH17 on Russia: International investigation turns into demonic circus