Gazprom's friends in high places
The Kremlin has killed plans to increase dividends at state firms. Gazprom is off the hook again
Firmer oil prices have left the Kremlin feeling generous—to its friends. Russia's government has decided not to fulfill a decree to force state companies to pay out dividends worth 50% of profits. Gazprom is a major beneficiary. Investors who took the plunge on the back of the government's pledge lose out. A move to double the company's dividends was described last year by Citigroup's veteran Russia analyst Ron Smith as "a potential game changer". But that potential won't be realised and the big losers are portfolio investors who piled into Gazprom, Rosneft and Transneft, each state controlled, expecting that payouts would rocket from their current levels. The Kremlin's calculus changed afte
Also in this section
21 April 2026
After overcoming a COVID-induced demand collapse with several years of successful market management, geopolitical events have conspired to provide the pact’s biggest test to date
21 April 2026
The regime’s policy of using nuclear ambiguity as a deterrent may have failed but it has realised it has other cards to play, while its neighbours are reappraising their approach to security
21 April 2026
As the global energy system undergoes a fundamental realignment, Algihaz Holdings has established itself as a critical player bridging conventional energy markets and the next generation of renewable infrastructure.
21 April 2026
The 25th WPC Energy Congress is taking place from 11-15 October 2026 at the Riyadh Front Exhibition & Conference Center.
