The Russian energy giant Gazprom reported its first quarterly loss in nearly five years as the coronavirus outbreak crippled gas demand and led to the devaluation of the ruble. The supplier reported a net loss of 116 billion rubles for the first quarter of 2020 compared to the same period last year, when it produced a net profit of 536 billion rubles. The last time Gazprom produced losses was in the third quarter of 2015. The Russian energy giant saw its operating profit drop 36 percent, while sales revenues from one of its key markets, Europe, and other countries fell 45 percent. That dragged revenue down almost 25 percent to 1.74 trillion rubles.
