EnergyWatch

Gazprom delivers bottom line bonanza during oil crisis

The operating result was historically high and there was plenty of money in the pockets of Russian energy giant Gazprom's subsidiary in 2016. However, there are various explanations on top of a huge oil deficit in 2016.

While oil executives across the board have likely spent a gloomy 2016 wishing they had embarked on careers in calmer industries, there is one oil company actually experiencing cause for celebration.

Russia's Gazprom Neft, a subsidiary of Gazprom, increased its bottom line by 82 percent during 2016, up to RUB 24,2 billion (EUR 396 million).

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