MOSCOW, July 30 (RIA Novosti)
Russian energy giant Gazprom overtook U.S.-based energy major ExxonMobil in 2011 to become the world’s most profitable company, according to the latest edition of Forbes magazine published on Monday.
Gazprom netted $44.46 billion in profits last year, compared to $41.6 billion generated by ExxonMobil, which was the world’s most profitable company in 2010.
The Industrial and Commercial Bank of China ranks third in Forbes’ ratings with $32.2 billion in profits.
Gazprom CEO Alexei Miller told the company’s annual meeting of shareholders in late June that the Russian energy giant was the world’s leader in revenue for the second consecutive year and was second in output among all global oil and gas companies.
Forbes previously published a list of the world’s 25 largest oil and gas companies in 2012, in which Gazprom ranked second only to Saudi Arabia's Aramco.
Gazprom reported a 35 percent year-on-year increase in its 2011 IFRS net profit to 1.307 trillion rubles ($44.6 billion). Gazprom’s natural gas output grew by 0.9 percent in 2011 to 513.2 billion cubic meters, and its exports to Europe rose by 8.2 percent to 150 billion cubic meters.
Add to blog
You may place this material on your blog by copying the link.
Image Galleries: Yury Gagarin: A down-to-earth person
Infographics: The Linguistic Diversity of the Planet
Ukraine has not preserved its 1991 borders. The signing of the Geneva memorandum on April 17 reaffirmed the willingness of Russia, the United States and EU countries to reach a compromise. While the sides continue to trade tough talk and symbolic sanctions, the Kremlin and the White House are also holding a parallel dialogue on the coordinated geopolitical revision of Eastern Europe.