Stockholders of Gazprom have become intimidated by the difficulties facing the oil and natural gas behemoth. The turbulent price of crude oil, for one, has been felt almost as strongly as the situation between Russia and Ukraine. In addition to sanctions placed on Russia by Europe, Ukraine has dragged its feet in paying the gas bill for Gazprom products. While Gazprom has threatened to stop supplying Ukraine if its bills are left unpaid, pipelines through Ukraine are the major artery for Gazprom’s sales in the rest of Europe. Cutting off Ukraine would mean immediately losing 40% of its exports volume. Gazprom has taken this situation especially hard today, sinking 3.43% to 149.6700 so far.
February 25, 2015 – Stock Market News
Stockholders of Gazprom have become intimidated by the difficulties facing the oil and natural gas behemoth. The turbulent price of crude oil, for one, has been felt almost as strongly as the situation between Russia and Ukraine. In addition to sanctions placed on Russia by Europe, Ukraine has dragged its feet in paying the gas bill for Gazprom products. While Gazprom has threatened to stop supplying Ukraine if its bills are left unpaid, pipelines through Ukraine are the major artery for Gazprom’s sales in the rest of Europe. Cutting off Ukraine would mean immediately losing 40% of its exports volume. Gazprom has taken this situation especially hard today, sinking 3.43% to 149.6700 so far.
Related Posts: