Connect with us

Hi, what are you looking for?

World

Gazprom net profits drop sevenfold in 2014 on ruble, Ukraine

-

Russia's gas giant Gazprom on Wednesday reported its net profits in 2014 plunged sevenfold over the previous year, weighed down by economic sanctions and the devaluation of the ruble.

The company -- which was the most profitable in the world just a few years ago -- reported 159 billion rubles in net profits last year ($3 billion, 2.8 billion euros) compared to 1.14 trillion rubles ($21.8 billion, 20 billion euros at the current exchange rate) in 2013, according to Gazprom's annual report published Wednesday.

Russia’s gas giant Gazprom on Wednesday reported its net profits in 2014 plunged sevenfold over the previous year, weighed down by economic sanctions and the devaluation of the ruble.

The company — which was the most profitable in the world just a few years ago — reported 159 billion rubles in net profits last year ($3 billion, 2.8 billion euros) compared to 1.14 trillion rubles ($21.8 billion, 20 billion euros at the current exchange rate) in 2013, according to Gazprom’s annual report published Wednesday.

AFP
Written By

With 2,400 staff representing 100 different nationalities, AFP covers the world as a leading global news agency. AFP provides fast, comprehensive and verified coverage of the issues affecting our daily lives.

You may also like:

World

Calling for urgent action is the international medical humanitarian organization Doctors Without Borders/Médecins Sans Frontières (MSF)

Business

The cathedral is on track to reopen on December 8 - Copyright AFP Ludovic MARINParis’s Notre-Dame Cathedral, ravaged by fire in 2019, is on...

Business

Saudi Aramco President & CEO Amin Nasser speaks during the CERAWeek oil summit in Houston, Texas - Copyright AFP Mark FelixPointing to the still...

Business

A recent article in the Wall Street Journal infers that some workers might be falling out of the job market altogether.