In total, the total loss in the Russian Forbes ranking of the most unprofitable companies in the Russian Federation exceeded $9.4 billion.
Russia’s largest gas company Gazprom has become the most unprofitable company in the country, recording a net loss of $6.1 billion in 2023. This was reported by Russian Forbes.
By the end of 2023, Gazprom reported a record net loss of $6.1 billion for the first time in a quarter century, making it the country’s most unprofitable company. At the same time, in the first half of 2024, the company achieved a net profit of almost $12 billion.
The second position in the ranking of the most unprofitable companies in the Russian Federation was taken by the Amur Gas Chemical Complex, a joint venture between Sibur Holding and the Chinese Sinopec, which postponed the launch of production to 2027 due to Western sanctions limited the supply of necessary equipment.
In total, the top five most unprofitable companies also include Ozon with a net loss of $450 million, United Aircraft Corporation Rostec with $360 million, and the social network VK with a similar amount. The losses of the Mezhdureche coal company amounted to $340 million, the Moscow Metro – $320 million, and the Deposit Insurance Agency – $310 million.
In total, the total loss of companies included in the Russian Forbes rating exceeded $9.4 billion.
We remind you that record losses, Western sanctions and China’s refusal to accept a new contract for Russian gas are disrupting Gazprom’s plans to develop Arctic fields.
After record losses, Gazprom began selling property
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.