September 4

Gazprom profit down 9pc as costs rise

first_img Gazprom profit down 9pc as costs rise by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeStyleVamp10+ Normal People Who Astonishingly Look Like CelebsStyleVampvirimi.com14 Efficient Arm Workouts To Build Might & Muscle – Virimivirimi.comcutenova.comTake a Peek at 10 of the Most Expensive Houses in the Worldcutenova.comHealth.recetasgetHeart Attack Early Warning Signs and SymptomsHealth.recetasgetadvisor15 Plants that Repel Mosquitoes NaturallyadvisorCleaning Services | Search AdsHere’s What Cleaning Services In Scottsdale Should Actually CostCleaning Services | Search AdsMold Removal | Search AdsBathroom Mold Removal Tips That Might Surprise Most AmericansMold Removal | Search AdsCrawl Space RepairFoundation Repair Cost In Scottsdale May Surprise YouCrawl Space Repair5log – Livinguard®This mask has been sold out in Germany 5 days after the government has tighten up5log – Livinguard® whatsapp alison.lock Thursday 10 February 2011 1:00 pm Sharecenter_img Russia’s top gas producer Gazprom reported a fall in third-quarter profits after its costs for purchasing oil and gas rose by nearly a third.Gazprom, which buys gas from Central Asia and resells it mainly to Europe, said the purchase costs for oil and gas rose 29 per cent, but did not elaborate further.Third-quarter net profit attributable to shareholders fell 8.9 per cent to 159 billion roubles (£3.7bn), missing expectations for 160 billion seen by a Reuters poll of analysts.The company said gas sales to Europe, its prime market, decreased to 291 billion roubles from 312 billion in the 2009 period, while operational costs rose 12 per cent to 592 billion roubles on the back of increasing oil and gas purchases.Gazprom also disclosed more details of a sale of shares in Novatek, Russia’s largest non-state gas producer, to Gazprombank that took place in December.The company said it sold 9.4 per cent of Novatek for 57.5 billion roubles (£1.22bn), well below the market price at the time.As of the market close on December 20, when the sale to Gazprombank was announced, the stake was worth $2.84bn (£1.77bn) according to the share price at the time.“In our view, Gazprom could have struck a better deal by offering shares into the open market (rather than selling to Gazprombank which then sold an option to buy the stake to Novatek’s management),” J.P.Morgan said in a note obtained by Reuters.“In our view, the transaction may well be viewed poorly by Gazprom minority shareholders.”Gazprom shares were down 2.5 per cent at 1440 GMT, underperforming a 2.1 per cent decline on the broader Moscow market, where the company is the main contributor.Subsequently, Novatek Chief Executive Leonid Mikhelson and board member Gennady Timchenko obtained the right to buy the 9.4 per cent stake from Dhignfinolhu, a vehicle of Gazprombank. Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’Sportsnaut Tags: NULL whatsapp Show Comments ▼last_img

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Posted September 4, 2021 by admin in category "tsejierv

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