OAO Gazprom has posted a decline in annual profit, the first since 2001. The world’s biggest natural gas producer earned RUR 1.18 trillion, or some $38 billion, compared with RUR 1.3 trillion in 2011.

      Part of the slump was due to the falling exports to European countries, where sluggish consumer spending and an ailing economic condition are driving the demand for gas down.

      The annual IFRS report puts Gazprom to the third place among the world’s most profitable companies of 2012, with the state-run monopoly trailing behind ExxonMobil and Apple.

      Click here to browse the full IFRS report by OAO Gazprom.