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Gazprom posts YOY gain in H1'19 profit, sales

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Gazprom posts YOY gain in H1'19 profit, sales

Russian integrated oil and gas company PJSC Gazprom on Aug. 29 reported a first half profit attributable to the company's shareholders of 836.50 billion Russian rubles, up from the 630.80 billion rubles seen during the first half of 2018.

Sales for the half totaled 4.077 trillion rubles compared to 3.972 trillion rubles a year ago. Gazprom's operating profit for the half was 780.88 billion rubles, down from 879.27 billion rubles in the corresponding period in 2018.

The majority of the company's sales came from gas. First half net sales of gas totaled 2.140 trillion rubles, increasing slightly from the 2.125 trillion rubles noted a year ago. Gazprom said the change was mainly due to higher prices.

In terms of volume, Gazprom reported 263.4 bank cubic meters of gas was sold in the first half, down from the 278.7 BCM posted for the first half of 2018.

As of Aug. 28, US$1 was equivalent to 66.56 Russian rubles.