Statoil beats Gazprom
Gazprom is regaining strength after last year’s crisis slower than its competitors.
Both Russian and foreign competitors are doing better than Gazprom, newspaper Vedomosti reports. Thus, while Statoil in the first quarter of the year increased production with three percent and sales with seven percent year-on-year, Gazprom’s Q1 production is expected to be about three percent below pre-crisis figures. Similarly, the company’s first quarter sales to the EU is expected to be 16 percent below 2008 figures, Vedomosti writes. Gazprom will on May 15 present its Q1 production and sales figures to the public. Statoil and other companies presented their figures last week. The reason for the Norwegians’ successful sales compared with Gazprom is not clear, the newspaper writes. The two companies’ price differences are only insignificant.
