Naftogaz loses $684 million in 2020, blames pandemic, regulation, debtors

State-owned gas giant Naftogaz lost $684 million in 2020, according to a financial report published by the company on April 27.

It’s a massive drop compared to 2019 when the company made $93 million in net profit, and the first time since 2015 that Naftogaz has had negative financial results.