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The Biggest Oil & Gas Companies

Top 10 Oil & Gas Companies: Gazprom

Contributor: Sumit Dutta
Posted: 05/06/2013
Top 10 Oil & Gas Companies: Gazprom
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Another national oil company (NOC), Russia’s Gazprom is the second largest oil and gas company by production volume.


The company, whose name is a contraction of Gazovaya Promyshlennost meaning "gas industry", formed in 1989 when the Ministry of Gas was transformed into a corporation and later privatised in 1993.

Although a private company, the majority of the company is owned by the Russian government. Following major reforms initiated by President Vladimir Putin, the company saw a shift in management personnel and policy and later sales by it’s major subsidiaries resulted in the Russian government gaining the controlling share in the company.

The company is largest producer of natural gas worldwide and is one of the most important companies to the Russian economy and in 2008 represented 10% of the national GDP.

Gazprom is also a media powerhouse and its subsidiary Gazprom Media owns NTV, the only state independent national network in Russia.

READ MORE: Russia’s Impact on the Asia Pacific Oil Market

Barrels Per Day 9.7 million
Founded 1989
Headquarters Moscow, Russia
State Owned? Yes
CEO Viktor Zubkov (Chairman) & Alexei Miller (Vice-Chairman and CEO)
Revenue US$158.1 billion (2011)
Employees 393,000
Website http://www.gazprom.com/



DID YOU KNOW?

Gazprom loves sports! The company is the owner of football club Zenit St. Petersburg and sponsors of Schalke 04, Red Star Belgrade, the Russian professional cycling team Team Katusha, the UEFA Champions League and UEFA Super Cup.

WATCH GAZPROM'S VIDEO ON THE POWER WITHIN:

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Sumit Dutta heads up Marketing at Oil & Gas IQ. Contact him at Twitter or Google Plus

Sumit Dutta
Contributor: Sumit Dutta