Posted on 01/13/2025 11:20:07 AM PST by marcusmaximus
Russia's natural gas giant Gazprom may slash staff numbers as it faces dwindling revenues amid sanctions imposed following President Vladimir Putin's invasion of Ukraine.
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In December, Elena Ilyukhina, a deputy chair of Gazprom's management committee, sent a proposal to CEO Alexey Miller to reduce staff from 4,100 to 2,500 at the firms' central office and St. Petersburg branch, according to the 47news telegram channel.
On Monday, the outlet posted an image of the document, in which Ilyukhina described the challenges Gazprom faced. In a call for "cost optimization at all levels of management," she said the company needed to cut duplicate functions and bureaucracy.
Ilyukhina said that over the past 20 years, staff numbers had risen to create a payroll of 50 billion rubles ($485 million) and that "funds from cutting labor costs and social benefits" would be redirected to increasing "the motivation and development of staff," pending an audit by February 15.
Forbes reported that Sergey Kupriyanov, another deputy chair of the Gazprom management committee, confirmed the authenticity of the letter but did not comment further.
In 2023, Gazprom faced a loss of 629 billion rubles, its first loss in 25 years. It has also suffered a series of blows—including cuts to its most lucrative market of Europe, which has sought other suppliers when faced with Putin's aggression in Ukraine.
In reporting Gazprom's possible job cuts, 47news said it was the latest setback for the firm following the expiration on New Year's Day of a transit deal with Ukraine
(Excerpt) Read more at newsweek.com ...
Looks like their war will end in just the nick of time for them with the upcoming negotiations. Another year of this and they’d might actually be forced to pull out of Ukraine!
On Monday, the outlet posted an image of the document, in which Ilyukhina described the challenges Gazprom faced. In a call for “cost optimization at all levels of management,” she said the company needed to cut duplicate functions and bureaucracy.
Ilyukhina said that over the past 20 years, staff numbers had risen to create a payroll of 50 billion rubles ($485 million) and that “funds from cutting labor costs and social benefits” would be redirected to increasing “the motivation and development of staff,” pending an audit by February 15.
But in like manner, over many months we have bee informed that 1) Russia is weakening into collapse, and 2) Russia is ready to conquer all of Europe.
Somehow, it would be interesting that dueling and opposite narratives could settle into some kind of "we're on the same page" consistency.
May it be so and may it continue!
Of course less world supply means higher prices for the rest of us.
One week until Drill baby, drill!
Gas giant....
For a minute there, I thought this thread was about Michael Moore or Chris Christie!
Well they can just put them in the Army and send them to Ukraine I guess.
In previous weeks we have been informed that Russia has 1) a labor shortage, and 2) there will be some labor layoffs.
Might be the same problems we have?
shortage of good labor, firing of non productive labor. That would put it on the same page for the labor issue.
can’t connect the weakening and conquer narratives yet except maybe if they “lose” we will provide help like in Ukraine? maybe take their refugees?
Global gas consumption is about 4 Trillion cubic meters per year. This is a decline of about 1.5% from 2021.
Europe’s decline in consumption was 110 billion cubic meters from 2021. This was roughly 19%.
Middle Eurasia (Russia and the various ‘stans) had a consumption increase of about 20 billion cubic meters
Middle East consumption increase about 22 billion cubic meters.
Africa -5 bcm.
Asia flat — because China and India flat (they had trailing covid scares last year)
So the regional increases did not offset the Europe consumption decline and thus the 1.5% overall global decline.
Fairly important conclusion. Europe’s consumption was sharply down. They didn’t maintain life/society via alternate source.
Gazprom (and the other Russian producers of Lukoil, Rosneft etc) produced less than the year before, which obviously means the gas is still underground as an asset.
“Russia is ready to conquer all of Europe.”
If any end comes to the war and sanctions, while Russia retains its aggressive ideology, it should be able to rebuild quickly. Its revenues from energy are going to be quite large, as they were pre-2022, and its unlikely that its elite will invest this capital abroad - they probably have learned this lesson.
Job 1 is probably going to be investment in the military. Job 2 is going to be to conquer Europe. They will not be able to coexist and tolerate opposition.
Best to remember that gas is measured in trillion cubic feet.
Not in pieces of paper with ink on them. If you need those, you print them.
If you need trillions of cubic feet and it was already extracted and burned to make electricity, then you’re in trouble. It’s hard to print joules.
arggg trillion cubic meters. The global standard. US uses feet. Corrupts all comparisons.
War is thus divine in itself, since it is a law of the world. War is divine through its consequences of a supernatural nature which are as much general as particular. War is divine in the mysterious glory that surrounds it and in the no less inexplicable attraction that draws us to it. War is divine by the manner in which it breaks out.
?
I dont think even Dugin has gone here.
Putin’s little escapade will certainly Damage Russia for years to come. I’d be surprised if Ukraine can survive as a separate country.
This is based on the number of working age men lost on both sides.
Truth is the first casualty in a war, but Since Russia doesn’t have a VA like America does this is a problem
and this
as Ukraine is the people attacked
https://internationalmedicalcorps.org/story/a-fresh-start-for-wounded-ukrainians/
and others in the world are stepping up to help.
Not as many die in a war as are the number of seriously wounded in body and mind for the rest of their lives.
Putin and his WWII mentality, may have retarded the potential improvement of the quality of life for his population for several generations.
For what, the fear of a NATO that was never going to invade you?
Putin turned the Baltic sea into “Lake NATO”.
Lost Syria, can’t safely go into the Black Sea.
Soon the USA will work out a deal and get Greenland,
so say goodbye to the arctic, Vladimir.
I’m surprised they haven’t retired you yet.
So you don't recongize your chum, Joseph de Maistre? Seventh Dialogue, 1821, from "Les Soirées de Saint-Pétersbourg"?
Stooopid arse Rooski flaring off massive amounts of natural gas. That they can no longer sell into Europe>>>>>
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The gas being flared at Portovaya near the Finnish border alone was estimated to be worth about $10 million per day in August 20223.
Yes, Russia has been flaring off significant amounts of natural gas, particularly since its invasion of Ukraine in 2022. This practice has raised environmental concerns and highlighted shifts in the global energy landscape.
Flaring at Portovaya LNG Facility
In August 2022, satellite imagery revealed large-scale gas flaring at Russia’s Portovaya liquid natural gas (LNG) facility near the Finnish border39.
Analysis by Rystad Energy estimated that approximately 4.34 million cubic meters of gas were being burned daily at this site13. This equates to about 1.6 billion cubic meters annually, or roughly 0.5% of the European Union’s annual gas demand6.
The flaring at Portovaya was described as an “environmental disaster” by Rystad Energy, with around 9,000 tons of CO2 being emitted daily69. This single flare was estimated to be equivalent to about 6% of Russia’s total daily flaring in 20216.
Reasons for Increased Flaring
Several factors have contributed to Russia’s increased gas flaring:
Loss of European market: Following sanctions and reduced demand from Europe, Russia has been unable to redirect its natural gas exports to other markets due to lack of infrastructure4.
Technical and economic challenges: Flaring often occurs when companies lack adequate infrastructure or financial incentives to bring the gas to market6.
War-related disruptions: Production disruptions related to the Ukraine conflict have led to reported spikes in flaring and venting events at idled Russian oil and gas wells7.
Weak regulations: Russia’s weak methane regulations and poorly managed operations contribute to emissions-intensive practices in its oil and gas sector7.
Environmental and Economic Impact
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