- Russia's Gazprom (OTCPK:OGZPY) says it swung to a net profit of 102B rubles ($1.6B) in its FQ3 but revenue fell 3% Y/Y to 1.26T rubles and operating expenses rose 21% to 1.14T.
- Gazprom says gas volumes sold to Europe rose 28% Y/Y in the first nine months of the year, boosting revenue even as the price fell, but sales volume in Russia fell 7% and to former-Soviet countries fell 19%.
- Shares are lower following reports that the government has backtracked on plans to oblige state-controlled companies to increase dividend payouts to 50% of net profit, and may not force companies to pay more than 25% of their profit in dividends.
Gazprom swings to profit but report hints at lower than expected dividends
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| Symbol | Last Price | % Chg |
|---|---|---|
| OGZPY | - | - |
| Public Joint Stock Company Gazprom | ||