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Russia’s Gazprom books massive losses for 2020 on falling energy prices & ruble depreciation ...News
Russian energy major Gazprom has seen a dramatic fall in net profits for the first nine months of 2020, which fell to 218 billion rubles ($2.9 billion) from nearly 1.1 trillion rubles ($14.5 billion) a year ago. In its report published on Monday, Gazprom said that overall net sales of gas dropped by third for the three quarters year-on-year. The company explained that it was caused by a drop in average prices and volumes of gas sold. The steepest decline was recorded in “Europe and other countries” segment, with sales of blue fuel plummeting by 40 percent. Also on rt.com Con
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