Gazprom (OGZPY.PK) says FQ1 net profit fell 23.5% Y/Y on lower exports and retroactive payments...

|By:, SA News Editor

Gazprom (OGZPY.PK) says FQ1 net profit fell 23.5% Y/Y on lower exports and retroactive payments to European customers that negotiated discounts. It's more bad news for the Russian gas giant, as the EC's probe into alleged breaches of antitrust rules shows how the emergence of other gas sources has emboldened Europeans to oppose Gazprom's habit of linking gas prices to oil.