Gazprom net profits slashed by two-thirds in 2022

Source: Meduza

Gazprom has reported a net profit of 747.3 billion rubles in 2022, writes the Russian business publication Kommersant. (This is about $9.8 million in today’s money.)

This implies a 72.2 percent reduction in net profits, compared to Gazprom’s 2021 results, when the company netted 2.7 trillion in profits.

Gazprom’s 2022 revenue was 8 trillion rubles, or 25 percent above its 2021 revenue of 6.4 trillion (as noted by RBC).

Kommersant reports that Russia’s petroleum extraction contracted by 11.8 percent in 2022, in the context of plummeting oil exports to Europe.

Russia’s petroleum industry in the big picture

A crisis of abundance and other paradoxes UCLA economist Oleg Itskhoki talks about Russia’s economy under sanctions, why it ‘failed to collapse,’ and the crisis around the corner

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Gazprom net profits slashed by two-thirds in 2022

A crisis of abundance and other paradoxes UCLA economist Oleg Itskhoki talks about Russia’s economy under sanctions, why it ‘failed to collapse,’ and the crisis around the corner

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