Gazprom’s H1 Profit Plunges As Natural Gas Deliveries To Europe Slump ...Middle East

Russia’s gas giant Gazprom has reported a massive drop in its first-half net profit as deliveries to Europe have slumped compared to 2022 when Russia was still supplying pipeline gas to its European customers for most of the first half of last year. Gazprom’s net profit plunged by 8.5 times to stand at just $3.1 billion (296 billion Russian rubles) for the first half of 2023, down from $26 billion (2.5 trillion rubles) for the same period of 2022. The collapse in Gazprom’s net profit was also due to the weak ruble, which fell…

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