Russian gas giant Gazprom became the world’s leading company in terms of profits in 2011, according to Forbes’ rating published on Monday.
Forbes said Gazprom posted U.S. $44.46 billion net profit in 2011 and replaced the 2010 leader ExxonMobil, which earned $41.6 billion last year and took second place.
The Industrial and Commercial Bank of China, with a $32.2 billion profit, was ranked third largest.
Forbes previously published a list of the world’s 25 largest oil and gas companies in 2012, in which Gazprom ranked second only to Saudi Arabia's Aramco.
Gazprom reported a 35 percent year-on-year increase in its 2011 IFRS net profit to 1.307 trillion rubles ($44.6 billion). Gazprom’s natural gas output grew by 0.9 percent in 2011 to 513.2 billion cubic meters, and its exports to Europe rose by 8.2 percent to 150 billion cubic meters.
Author: Irina Fomina