Moscow: This time its Russia as energy giant Gazprom overtook US-based energy major ExxonMobil to become the most profitable company in the world.
Gazprom netted $44.46 billion in profits last year, compared to $41.6 billion generated by ExxonMobil, which was the world's most profitable company in 2010.
The Industrial and Commercial Bank of China was ranked third with $32.2 billion in profits.
Gazprom CEO Alexei Miller told the company's annual meeting of shareholders in June that the Russian energy giant was the world's leader in revenue for the second consecutive year and was second in output among all global oil and gas companies.
Earlier, a list of the world's 25 largest oil and gas companies in 2012 was published, in which Gazprom ranked second only to Saudi Arabia's Aramco.
Gazprom reported a 35 percent year-on-year increase in its 2011 net profit to $44.6 billion. Gazprom's natural gas output grew by 0.9 percent in 2011 to 513.2 billion cubic metres, and its exports to Europe rose by 8.2 percent to 150 billion cubic metres.