Russia's largest gas producer Gazprom says its net profit in the fourth quarter of 2009 rose nearly tenfold compared to a year ago as its gas sales picked up, according to AP. The full-year figures, subtracting already published nine-month earnings, imply that net profit rose to 314.5 billion rubles ($10.7 billion) from 37.5 billion rubles a year earlier. The profit has nearly doubled compared to a quarter earlier. Gazprom's sales collapsed in the fourth quarter of 2008 and did not pick up until the mid-2009 as energy demand was battered by the global downturn. Gazprom's stocks were up 1.5 percent at the MICEX stock exchange at midday.
