GAZPROM: PROFIT AND SALES RISE- Topic: Oil and Gas News

Net profit grew from 191 to 217 billion roubles (8. Analysts had expected both revenues and profit to decline following lower gas sales due to the abnormally warm winter. Gazprom said that the “the revised accounting treatment of the non-governmental Gazfund has a significant impact on the group’s financial information of the first quarter 2007. However, without the deconsolidation revenues profit would have decreased. In addition, the deconsolidation nearly halved Gazprom’s net debt to 468 billion roubles (18. read more

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