Gazprom warns investors of a drop in profits and cash flow in 2012, pressured by shrinking sales...

|By:, SA News Editor

Gazprom warns investors of a drop in profits and cash flow in 2012, pressured by shrinking sales in its most lucrative European market amid an economic slowdown and increasing competition. "Gazprom appears unwilling to address the reality of more competition and weaker demand, instead spending more money on new fields and pipelines," Renaissance Capital says.