|Bid||3,436.00 x 10000|
|Ask||3,437.50 x 29000|
|Day's Range||3,426.50 - 3,460.00|
|52 Week Range||2,601.00 - 3,582.00|
|PE Ratio (TTM)||1,955.89|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Vagit Alekperov, the long serving chief executive and top shareholder of Lukoil, told Reuters he expected global oil demand to rise by 1.8 million barrels per day next year. In addition to that, the supply of crude from producers who are not participating in production cuts is estimated to rise by 0.8 million bpd next year, he said. "We still have plenty of excessive stocks globally so collective actions by OPEC and non-OPEC will allow them to be brought down," Alekperov said on the sidelines of the OPEC and non-OPEC meeting in Vienna.
Kazakhstan hopes to settle a dispute with global energy companies developing the Karachaganak gas condensate field in the coming weeks, Energy Minister Kanat Bozumbayev told reporters on Monday. "I hope that before the end of this year we and the (Karachaganak) shareholders... will invite you to a table where we will sign something," Bozumbayev said, adding that progress had been made in the talks "in Kazakhstan's favour". Kazakhstan filed a $1.6 billion claim against foreign firms developing the Karachaganak gas condensate field in 2015, one of the companies has said.
Sudan has held talks with Russian oil firm Lukoil and other companies from the United States and Canada on the development of its oil industry after the lifting of U.S. sanctions.
Monster Hurricane Irma has shut down oil terminals across the northern Caribbean, worsening a fuel supply crunch in Latin America which is struggling to meet demand since Hurricane Harvey disrupted shipments from the U.S. Gulf Coast last month. Latin America had been scrambling for almost two weeks to find oil cargoes because of Harvey, which caused massive flooding in Texas and Louisiana, shutting down ports, refineries and production platforms. Irma, which is being followed by two hurricanes in the Atlantic and Gulf of Mexico, was affecting Caribbean refineries, terminals and storage facilities.
Iraq's state-oil marketer SOMO and the trading arm of Russia's Lukoil agree to form a joint crude marketing venture, the Iraqi Oil Ministry website reports.
Oil prices are likely to stay in a tight range between $50 and $60 a barrel this year as a recovery in U.S. shale output counterbalances the OPEC supply cut deal to reduce the global glut, Litasco Chief Executive Tim Bullock said in an interview. A lack of volatility means trading houses will no longer have the extra boost as in the last two years following the 2014 oil price crash, said Bullock, a BP trading veteran who has run Litasco - one of the world's largest traders and part of Russian oil major LUKOIL (LKOH.MM) - since 2012.
Oil will stabilize around $55 to $65 a barrel as OPEC fulfills its agreement to cut output, with stockpiles and shale production keeping prices from rising much more, the Middle East head of Lukoil PJSC ...
Lukoil Vice President Gati Al-Jebouri discusses how OPEC production cuts are impacting investment in Iran and elsewhere. He speaks on "Bloomberg Markets: Middle East." (Source: Bloomberg)
Russian equity funds rocketed away from their emerging market peers in 2016, overtaking Brazilian funds in the second half, whilst on the emerging debt side it was contrarian bets in beaten down Latin American names that paid off. Russian funds filled the top three places in a league table of emerging equity funds based on performance data from Lipper, after an oil price recovery kickstarted the economy. Chris Bannon, fund manager of the Pictet Russian Equities fund, which topped the equity table with a return of over 70 percent, said he was optimistic for 2017, seeing potential for more upside driven by earnings growth, coupled with today's cheap valuations.
It has defeated armies trying to invade Russia in the past, and now the fabled Russian winter has come to Moscow's rescue again, this time helping it comply with a deal among world oil exporters on cutting output. Russia, which has in the past been accused of dragging its feet in implementing oil production and exports deals, reduced production by 100,000 barrels a day in the first few days of January, industry sources told Reuters. Late last month and in early January, temperatures fell as low as minus 60 Celsius (minus 76 Fahrenheit) across Siberia, rendering metal brittle, causing power supply disruptions, halting cars' engines and making it impossible for people to work outside in the open air.
Oct.10 -- Vagit Alekperov, chief executive officer at Lukoil, Russia's second largest oil company, discusses the OPEC-Russia oil deal and his successor at Lukoil OAO. He spoke exclusively with Bloomberg's Annmarie Hordern to mark the 15th anniversary of the company's London listing.