Finance
Russia's Gazprom first-half net profit down 6% to $12 billion
Published by Global Banking and Finance Review
Posted on August 29, 2025
2 min readLast updated: January 22, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on August 29, 2025
2 min readLast updated: January 22, 2026
Gazprom's net profit dropped 6% to $12.2 billion in H1 2025 due to a strong rouble and weak oil prices. The company plans to boost gas exports to China amid declining European sales.
MOSCOW (Reuters) -Gazprom's net income dropped almost 6% year-on-year in the first half of 2025 to 983.1 billion roubles ($12.2 billion), the state-owned Russian company said on Friday, due to a stronger rouble and weaker oil prices.
Revenue also edged down to 4.99 trillion roubles.
Gazprom incurred a loss of around $7 billion in 2023, its first since 1999, following a plunge in sales to Europe.
Russian gas now accounts for just 18% of European imports, down from 45% in 2021, while the region's oil imports from Russia have fallen to 3% from around 30% over that time. The European Union plans to fully phase out Russian energy by 2027.
The company is trying to increase its gas supplies to other markets, especially to China, though efforts to secure a deal on a new pipeline to the country have faced numerous challenges, including over price.
Gazprom will sign an "important" agreement with Chinese corporation CNPC next week during President Vladimir Putin's visit to China, Kremlin foreign policy aide Yuri Ushakov said earlier on Friday.
(Reporting by Ksenia Orlova and Oksana Kobzeva. Writing by Vladimir Soldatkin. Editing by Louise Heavens and Mark Potter)
Net profit is the amount of money a company has left after all expenses, taxes, and costs have been subtracted from its total revenue. It is a key indicator of a company's profitability.
Revenue is the total income generated by a company's business activities, such as sales of goods or services, before any expenses are deducted. It is often referred to as the top line of a company's income statement.
A stronger rouble means that the Russian currency has increased in value compared to other currencies. This can affect exports and imports, making Russian goods more expensive abroad and foreign goods cheaper in Russia.
European imports refer to goods and services purchased by countries in Europe from other countries. Changes in import levels can significantly impact the economies of both the importing and exporting nations.
Gas supply refers to the provision of natural gas to consumers, which can include residential, commercial, and industrial users. It is crucial for heating, cooking, and powering various industrial processes.
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