- Companies
MOSCOW, June 22 (Reuters) – Shares of Russia’s state-owned energy giant Gazprom (GAZP.MM), opens new tab fell below 100 roubles ($1.35) on Monday for the first time since 2009, according to the data from the Moscow Exchange.
Gazprom’s shares have been battered by various headwinds, such as Europe’s decision to shun Russia’s energy over the conflict with Ukraine, a decline in oil prices resulting from progress in talks between the United States and Iran, as well as its failure to secure a new gas deal with China.
Analysts say that last week’s Ukrainian drone attack on a Moscow oil refinery, owned by Gazprom Neft (SIBN.MM), opens new tab, the oil arm of Gazprom, also weighed on the sentiment towards the company, which has not paid a dividend in recent years.
According to the exchange, Gazprom’s shares declined by 3.67% from the previous day to 100.65 roubles, touching the level of 99.9 roubles earlier in the session.
Its shares have declined by around a fifth over the past 12 months, putting Gazprom’s current market value at 2.382 trillion roubles ($32.15 billion), a far cry from the $1 trillion promised by management in 2008.
($1 = 74.1000 roubles)
Read more Airline ticket prices may stay high as carriers bank fuel relief from Iran deal
Read more Iran leave note of thanks in LA locker room after draw with Belgium
Read more Ukraine says it struck Russian missile electronics plant, governor says five dead
