November 8, 2012 / 2:17 PM / 5 years ago

Gazprom says to cut capex in 2013 by 10 pct

MOSCOW, Nov 8 (Reuters) - Russia's gas exporting monopoly Gazprom will cut capital expenditures by around 10 percent to 800 billion roubles ($25.39 billion) next year, the company's chief financial officer Andrei Kruglov said on Thursday.

Analysts have criticised Gazprom for what they view as a swollen investment programme and ineffective spending. The company has said its capital expenditures will rise to 890 billion roubles this year, 180 billion more than initially planned.

Kruglov also said that the company will continue paying dividends of no less than 25 percent of net income, while borrowings will remain flat next year, at 90 billion roubles.

$1 = 31.5125 Russian roubles Reporting by Vladimir Soldatkin; Editing by Nelk

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below