Gazprom’s net profit fell 88 percent in the first half of the year

Russian energy company Gazprom’s net profit fell 88 percent in the first half of the year to 296 billion rubles (about $3 billion), compared with the same period a year earlier.

In the statement, in which it is reported that the company’s net profit in the first half of the year decreased by 88 percent compared to 2022 and dropped to 296 billion rubles, the cause of this decrease was the depreciation of the ruble against the dollar and the euro.

The statement said that the decrease in the amount of natural gas the company shipped to Europe was “partly offset” by increased natural gas exports to China.

Many countries in Europe had decided to stop or reduce imports of Russian gas because of the war in Ukraine.

652 BILLION RUBLES NET PROFIT OF ROSNEFT

Meanwhile, Rosneft, Russia’s largest oil company, reported a net profit of 652 billion rubles (approximately $6.8 billion) in the first half of the year.

A written statement from Rosneft says the company generated revenue of 3.9 trillion rubles (about $40 billion) in the first half of the year.

The statement indicates that the company’s net profit reached 652 billion rubles in the first half of the year, while capital expenditures were made at the level of 599 billion rubles.

The statement said the company produced 4 million barrels of oil per day during that period. (AA)