Gazprom Sees Profits Slump In H1 2020

Russia’s Gazprom reported an operating profit of $2.57 billion (189.99 billion rubles) for the first half of the year, down from $10.57 billion (780.88 billion rubles) a year earlier as the pandemic wiped out demand for gas. Sales fell by 29 percent on the year in the reporting period, the gas major said. Earlier this month, Argus Media reported, citing a regulatory filing by Gazprom, that the company’s share in the European gas market—a key market for Gazprom—fell during the second quarter of the year to 39.2 percent from…