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HomeBusinessBUSINESS LIVE: Gazprom UK faces collapse; Aramco profits soar

BUSINESS LIVE: Gazprom UK faces collapse; Aramco profits soar


BUSINESS LIVE: British arm of Gazprom faces collapse; Saudi Aramco rakes in blockbuster profits; Plus500 expands to Japan

The British arm of Russian energy giant Gazprom is facing collapse as major customers head for the doors.

Gazprom Energy, based in Manchester, supplies more than a fifth of the gas used by UK companies but does not serve households.

The world’s biggest oil exporter, Saudi Aramco, has raked in blockbuster profits amid soaring energy prices.

The Saudi Arabian titan made £83.5billion last year – more than double the level it generated in 2020 – even before Russia’s invasion of Ukraine sent the cost of oil spiralling.

Online stock trading platform Plus500 is set to enter the Japanese market through the acquisition of EZ Invest Securities.

Plus500 said the deal, which was made for an undisclosed fee, will see the London-listed firm ‘apply its considerable financial and technological strength’ to scale and develop EX Invest Securities over time

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Gazprom Energy, based in Manchester, supplies more than a fifth of the gas used by UK companies but does not serve households

Gazprom Energy, based in Manchester, supplies more than a fifth of the gas used by UK companies but does not serve households

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