Gazprom Grapples with Historic Net Loss Amidst Gas Revenue Decline

Russia's Gazprom Group, a state-controlled energy giant, has disclosed its first annual net loss in 23 years, signaling a significant shift in financial performance attributed to dwindling gas shipments to Europe and pricing pressures. In the wake of restricted gas flows to Europe, historically Gazprom's primary market, and plummeting gas prices exacerbated by geopolitical tensions, Gazprom Group, which encompasses oil and power ventures alongside its core gas operations, reported a substantial 629 billion-ruble ($6.84 billion) loss for the fiscal…