Russian energy giant Gazprom posted its first annual loss since 1999.
AdvertisementRussian energy producer Gazprom Group reported its first annual loss in 24 years, with restricted energy flows to Europe a leading factor in dragging down earnings.
International Energy Agency data indicates that gas flows to Europe hit their lowest levels since the early 1970s.
Meanwhile, Gazprom has outlined investments totaling 2.57 trillion rubles for this year, indicating a reduction of nearly 16% compared to its projections for 2023.
Russia has managed to reroute much of its energy flows to other countries such as China and India.
Persons:
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Organizations:
Gazprom, Service, Gazprom Group, Bloomberg, Ukraine, International Energy Agency, Reuters
Locations:
Europe, Russian, Ukraine, Russia, China, India