Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Rubio: 'Very short window', maybe days, for Hamas to accept deal
Al Mayadeen correspondent to southern Lebanon: Israeli warplanes launched a raid on the Ksar Zaatar neighborhood in western Nabatieh.
Al Mayadeen's correspondent in Gaza: The tower destroyed by the Israeli occupation in Gaza includes media offices, including Al Mayadeen's bureau.
Al Mayadeen's correspondent in Gaza: Four fetuses and three premature babies died at Nasser Medical Complex due to malnutrition
Lebanese Ministry of Health: One person was killed in an Israeli airstrike on a car in the town of Burj Qalawieh, south Lebanon.
Al Mayadeen correspondent: The first ship of the Maghreb fleet delivering aid to break the siege on Gaza departs from the port of Gammarth in Tunisia.
Channel 12: Airspace closed at Ramon Airport due to fears of drone infiltration
IOF Spokesperson: Sirens sounded over an aircraft infiltration in the Bir Ora area, and details are being examined
Drone infiltration sirens sound north of the Gulf of Aqaba
Al Mayadeen's correspondent in Gaza: The Israeli occupation carried out five extremely violent raids on the western areas of Gaza City

Russia's Gazprom records first annual loss in 25 years

  • By Al Mayadeen English
  • Source: Agencies
  • 3 May 2024 10:44
  • 2 Shares
2 Min Read

The Russian energy giant reports that revenue from gas sales dropped almost 40 percent in 2023.

  • x
  • Russia's Gazprom records in 2023 its first annual loss in 25 years
    A helicopter flies over the Nordstream gas pipeline terminal prior to an inaugural ceremony for the first of Nord Stream's twin gas pipeline through the Baltic Sea, in Lubmin November 8, 2011. (AFP)

Russian energy giant Gazprom reported on Thursday its first annual loss in 25 years, attributed to decreasing gas exports amid pressure from Western sanctions over the war in Ukraine.

Gazprom Group recorded in 2023 a net loss for the first time since 1999, valued to be 629 billion rubles ($6.7 billion). This stands in stark contrast to its net profit of $13.2 billion in 2022.

The company saw its total revenue drop to $92 billion in 2023 from $126 billion in the prior year.

Directly after publishing the earnings, the firm's stock plunged over 4% on Thursday.

Related News

Belarus hosts US officials at joint Zapad drills with Russia

Russian drones in airspace were 'duds': Polish FM

Read more: Russia to defend its interests if its assets were seized: Kremlin

The report indicates that revenue from gas sales declined by 40% to $47.4 billion, while revenue generated from oil sales grew by 4% to $38 billion. Additionally, Gazprom's electricity grid sales improved by 6% to $6.6 billion.

Russian natural gas exports to its major European Union markets have significantly declined because of sanctions related to the conflict in Ukraine and the sabotage of the Nord Stream pipelines.

Gazprom's natural gas supplies to Europe fell by 55.6%percent to 28.3 billion cubic meters in 2023, Reuters reported earlier. This drop in exports is the largest since the early 1970s, according to estimates from the International Energy Agency.

Nevertheless, Gazprom has shifted its focus in energy trading to Asia, particularly China, which has become one of its primary purchasers. When the Power of Siberia pipelines operate at full capacity, the volume of Russian gas supplies to China could reach nearly 100 bcm annually. The company anticipates that once this occurs, China will completely replace the EU as a buyer of Russian gas.

Read more: 95% of Western companies still operating in Russia: Austrian FM

  • Russia
  • Gazprom
  • Russian Gas
  • European Union

Most Read

The damaged building in the Katara neighborhood, Doha, Qatar, September 9, 2025 (Social media)

Hamas delegation survives Israeli assassination attempt in Qatar

  • Politics
  • 9 Sep 2025
Pro-"Israel" conservative Charlie Kirk shot during Utah speech

American far-right activist Charlie Kirk shot dead during Utah speech

  • US & Canada
  • 11 Sep 2025
Uprising against Volker Turk at the Human Rights Council over Gaza.

Uprising against Volker Turk at the Human Rights Council over Gaza

  • Politics
  • 12 Sep 2025
A screengrab from the ad played on Fox News. (X Screengrab)

Fox airs ad warning Trump not to let Netanyahu 'play' him on Gaza

  • US & Canada
  • 11 Sep 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
President Nicolas Maduro gestures to supporters during the inauguration of a monument in China's honor on the 80th anniversary of the end of World War II, in Caracas, Venezuela, Wednesday, September 3, 2025 (AP)
Politics

Maduro warns of threats, urges 'battle for truth' to defend Venezuela

Damage is seen after an Israeli strike targeted a compound that hosted Hamas' political leadership in Doha, Qatar, Wednesday, Sept. 10, 2025. (AP Photo/Jon Gambrell)
Politics

Netanyahu informed Trump before deadly attack in Doha: Reports

Israeli Prime Minister Benjamin Netanyahu and US Secretary of State Marco Rubio hold a joint press conference at the Prime Minister's Office, during Rubio's visit, in occupied al-Quds, occupied Palestine, Monday, September 15, 2025 (AP)
Politics

Netanyahu warns of Israeli isolation, calls to boost self-reliance

Spain axes €700Mln arms deals with 'Israel' over Gaza genocide
Politics

Spain axes €700Mln arms deals with 'Israel' over Gaza genocide

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS