Russia’s Gazprom posts quarterly gain

admin Alternative Media, Energy, Geopolitics, Market Commentary

A backlash from European leaders, low oil prices and increased sanctions pressure did little to damage Russia’s Gazprom, which posted huge profit gains Monday.
Gazprom, Russia’s largest natural gas producer, reported a 71 percent increase in net profits to $5.9 billion for the period ending March 31. Total sales from the company increased 6 percent.
“The increase in sales is mainly driven by the increase in gas sales to Europe and other countries and Former Soviet Union countries,” the company said in its quarterly statement.

This post was published at UPI

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