RUSSIA: Gazprom to Sell JUST for Rubles

Gazprom Group is mulling over the possibility to sell natural gas and crude oil for rubles, Gazprom Deputy Chairman Alexander Medvedev told the news conference in New York, Reuters reported.

But Medvedev gave no definite dates for the ruble transfer, pointing out the idea should put down roots at first. Asked about Gazprom’s attitude to the dollar decline, Medvedev said the company sells gas and crude both for dollars and euros.

Russia’s gas monopoly, Gazprom, stepped up net proceeds by 4.4 percent on year to 1,238.200 billion rubles in January through September under Russian Accounting Standards. Of this amount, gas sales accounted for 968.41 billion rubles, 1.4 percent up on year. The product cost surged 20.64 percent to 520.82 billion rubles; gross profits lowered 4.9 percent to 717.38 billion rubles; pretax profits narrowed 15.6 percent to 286.1 billion rubles.



Gazprom has 118,367.564 million rubles in stock capital split into 23,673,512.9 thousand common stocks, 5 rubles par each. The government owns over 50 percent in Gazprom.



Via: Reuters