Gazprom rakes in $28.9bn profit

Gazprom said on April 28 it had generated a $28.9bn full-year profit in 2021, up from $2.3bn year-on-year.

Favourable prices led to an 85% annual rise in net gas sales revenue for the Russian giant, bringing it to $78.4bn, while net sales of crude oil and gas condensate climbed 81% to $12.2bn.

Gazprom said operating expenditures had risen due to tax-related expenses and costs related to purchased gas and oil. It spent $28bn more on opex last year than it did in 2020.