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Wednesday, February 20, 2008

Gazprom profits beat forecast

15 February 2008 - Upstream OnLine - Russian gas export monopoly Gazprom said today that its profit stood at 124.44 billion roubles ($4.878 billion) in the third quarter last year compared to $4.089 billion predicted by a poll of analysts. Gazprom said its revenues amounted to 516.175 billion roubles in the period, higher than the average forecast of $20.025 billion. In the first nine months last year, net profit stood at 454.49 billion roubles versus 460.27 billion roubles in the first nine months of 2006, reported Reuters. An average rate of 25.51 roubles per dollar for the third quarter of last year was used to convert the results.

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