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Russia's Gazprom saw its earnings halved in the first six months of the year due to lower natural gas prices and sinking demand in Europe, while overall debt jumped nearly a third, the company reported Monday.
Ukrainian President Viktor Yushchenko indicated Friday he would like to revisit a hard-won natural gas deal with Russia later this year because the terms will further undermine his country's battered economy.
The Ukrainian prime minister is heading to Moscow to sign a deal aimed at restoring gas supplies to Europe.
Russia's Gazprom says it will cut the amount of gas it ships to Europe through Ukraine to make up for what it says Ukraine has stolen in recent days from pipelines crossing its territory.
Ukraine signed a deal Monday to allow independent monitors to track natural gas supplies from Russia to Europe, with no conditions, Russia's gas giant Gazprom said.
Russia's Gazprom said Tuesday its net profit almost tripled in the second quarter of 2008 as the world's largest gas producer reaped earnings from record commodity prices before the global economic crisis took hold.
Russia's President Dmitry Medvedev sternly urged Ukraine on Wednesday to fully pay its $2.1 billion debt for Russian natural gas supplies or face sanctions, as a Jan. 1 deadline for payment loomed.
Russia's state-run gas giant Gazprom said Friday it will ask the government for 100 billion rubles ($3.58 billion) to help fund capital-intensive power projects next year, the state-run RIA-Novosti news agency reported.
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