Free Republic

In mid-2022, Gazprom restricted gas flows to Europe in what was seen as a move by Putin to get both leverage against Kyiv's allies ahead of the winter season and retaliate against Western sanctions and support of Ukraine. But the EU managed to find alternative long-term sources of gas imports and free itself from most Russian piped-gas imports ... Gazprom's revenue fell by 41 percent year-over-year in the first half of 2023, while sales profits dropped 71 percent and gas production by 25 percent... The report said the company's upstream gas-production base is now isolated because infrastructure connecting its main...

The Russian government has instructed Gazprom, once Russia's biggest company by revenue, not to pay out dividends, following record losses and a plummeting share price. Earlier this month, Gazprom Group, which also includes oil and power businesses, announced a net loss of 629 billion rubles [$6.9 billion] for last year—the first since 1999. A decree on the government website, dated May 18, ordered Gazprom not "to provide for the payment of dividends on ordinary registered shares," for 2023.

Gazprom, the energy giant at the heart of Russia's economy, has announced it is selling property in Moscow, one week after posting record losses linked to restricted supplies to Europe linked to Vladimir Putin's invasion of Ukraine. The company said on Wednesday that the properties include office and non-residential buildings, a car parking lot in the capital, and the Imperial Park Hotel and spa sanatorium and resort complex in Rogozino village, just outside of Moscow. "Gazprom is engaged in a fire sale. They had their worst year in decades, and their production has fallen precipitously, down to what it was...