“Gazprom” for the first time in history went into loss by the end of the heating season

Winter first and fourth quarters are in the annual cycle of the company’s most significant

Russian “Gazprom”, who weekly recounts your budget because of the prices on the has, in the first quarter of 2020 received 306,231 billion rubles (4 billion dollars) loss according to Russian accounting standards. This was the first time in the history of the company, reports “Interfax”.

Over the same period in 2019, the company received 199,469 billion (2.5 billion USD). net profit.

As noted, for “Gazprom” as a supplier of fuel and energy resources is a very important seasonal factor. So winter first and fourth quarters are in the annual cycle are the most significant. In the second and third quarter of the company’s profit often greatly reduced and even dropped into negative territory. But first, the coldest quarter for this report has always been one of supporting him in this decade accounted for half of all annual profits of the company.

Russian “Gazprom” is rapidly losing its gas production

It is expected that “Gazprom” will publish the official quarterly and financial statements next week.

About how the collapse of gas prices plays into the hands of Ukraine, see story: