Russia’s gas giant posts first loss in quarter century ...News

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Russia’s gas giant posts first loss in quarter century
source : Russia Today ( News ) () 58
Gazprom’s record net loss follows a decline in revenues, according to an earnings report Russian energy major Gazprom reported its first annual loss since 1999 on Thursday, in the wake of dwindling gas exports due to the Western-sanctions pressure. According to the state-owned company’s earnings report, Gazprom Group posted a net loss of 629 billion rubles ($6.7 billion) in 2023, its first annual loss in 25 years. The result comes in contrast to a net profit of $13.2 billion in 2022. The firm’s total revenue fell to $92 billion in 2023 from $126 billion in the previous year. According to the report, revenue from g

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