this post was submitted on 18 Mar 2025
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Russian energy giant Gazprom suffers $13.1 billion loss in 2024 (kyivindependent.com)
submitted 5 months ago by Cephalotrocity@biglemmowski.win to c/ukraine@sopuli.xyz
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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.

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[–] skillissuer@discuss.tchncs.de 17 points 5 months ago (6 children)

how do you manage to lose money on a business that consists of these two steps:

  1. drill a hole in the ground
  2. sell what comes out
[–] Lemmyoutofhere@lemmy.ca 7 points 5 months ago (1 children)

Step 2 is tough when nobody wants to buy your product.

[–] psud@aussie.zone 3 points 5 months ago

They want it, they have just restricted their ability to buy it. Also, didn't Ukraine blows up the pipeline, meaning the gas has to be moved by ship

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