Gazprom's losses averaged $251 million per week, $35 million per day, or $1.4 million per hour. While the company's total revenue increased by 11% and its gas revenue by 14%, it still ended the year with a sales loss of 192 billion rubles ($2.3 billion).

The loss of a key European market has dealt a severe financial blow to Russian energy giant Gazprom, resulting in net losses of 1.076 trillion rubles ($13.1 billion) in 2024

The downturn has forced Gazprom to implement cost-cutting measures, including mass layoffs. On Jan. 13, Russian media outlet 47News reported that the company was preparing to lay off 1,600 employees from its central office.

  • JohnDClay
    10·
    2 days ago

    Ukraine helped. Also, they’re taxed at almost exactly their profit to maximize state revenue. It’s not quite state owned, but it’s close.

    • Zetta@mander.xyz
      6·
      2 days ago

      Plus, I’m sure a ton of corruption, stealing money directly from within the company.