Russia’s richest company revealed

Gazprom leads the Forbes ranking of the country’s most profitable firms

Energy giant Gazprom has topped the Forbes rating of Russia’s most profitable companies for the second year in a row, the outlet revealed on Thursday.   

Gazprom once again led the ranking of the 100 largest Russian companies by net profit, after earning 1.3 trillion rubles ($13 billion) last year.   

The top three companies also included liquefied natural gas production enterprise Yamal LNG with $8.4 billion in profits, and Russian oil major Rosneft with $8.1 billion.

Russia’s largest private oil company, Lukoil, followed Rosneft with $7.9 billion in net profit. The country’s second-largest natural gas producer, Novatek, was next on the list with $6.4 billion.   

Companies in the top ten also included mining giant Norilsk Nickel ($4.29 billion), oil producer Tatneft ($2.85 billion), oil and gas consortium Sakhalin Energy ($2.84 billion), top Russian state lender Sber ($2.7 billion), and fertilizer producer PhosAgro ($1.85 billion).  

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The companies were ranked by their net profit in 2022, the outlet noted.   

“Net profit is indicated in rubles, profit in other currencies is converted into rubles at average rates for the corresponding time periods of the 2022 fiscal year. Only financial or accounting statements published by companies, as well as data from the Federal Tax Service of Russia and Rosstat presented in the SPARK system were considered as data sources,” Forbes explained.  

Forbes analysts expect that the leader of the ranking may well change by the end of the year, identifying Sber, Yamal LNG, Rosneft, and Lukoil as contenders to unseat Gazprom.

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