5 of 20
Rank: 47
Profits ($millions): $19,269.20
Change from 2006: -5.2%

Profits at Russia's Gazprom fell to $19.3 billion in 2007 after a decline in gas sales in Europe and an increase in energy costs in Central Asia. Yet, Gazprom remains the biggest energy company in the world with revenues of $98.6 billion in 2007.

The company benefited from the Kremlin's increasing grip over the Russian oil and gas industry, which helped drive a buyout of BP's Siberian gas field at knockdown prices. The tenth largest employer in the world has an obvious inside track to the vast Russian reserves.

NEXT: HSBC Holdings
Last updated July 09 2008: 8:24 AM ET
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