|Bid||0.00 x 610000|
|Ask||0.00 x 268000|
|Day's Range||408.00 - 420.00|
|52 Week Range||371.40 - 522.80|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||11.22|
|Earnings Date||Aug 5, 2019 - Aug 9, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||7.72|
In recent months, Russia has indicated it would welcome a return to production growth, said analysts from Fitch Ratings Inc. and IHS Markit Inc. That’s back on the agenda after pledges by Saudi Arabia and its Persian Gulf allies to fill the supply gap created by tighter U.S. sanctions on Iran. Moscow “sees a place for its extra barrels in the market,” said Maksim Nechaev, Russia director for IHS Markit.
Russian oil producer Rosneft said on Monday its net income and oil production rose in the first quarter as it ramped up output at both mature and new fields and capitalised on favourable foreign currency rates. The Kremlin-controlled firm, headed by Igor Sechin, a close ally of President Vladimir Putin, also said Venezuela had continued cutting its debt to the company and that its dealings with the Latin American country had not breached U.S. sanctions. Rosneft's shares were up 1.9% to 421.9 roubles apiece after the results, outperforming the wider Russian stock market.
Russian Urals crude loadings from the Baltic Sea port of Ust-Luga have resumed, port official and trade sources told Reuters on Friday. Two 100,000-tonne vessels, Front Sirius and Tanacity Venture, have ...
CARACAS/PUNTO FIJO, Venezuela April 9 (Reuters) - V enezuela's opposition-controlled National Assembly on Tuesday allowed a parallel board of directors of state-run oil company PDVSA to negotiate foreign debt ahead of a looming payment deadline that could put its crown jewel overseas asset, U.S. refiner Citgo, at risk. The ad hoc board, which the Assembly on Tuesday expanded to nine members from five, is part an effort by opposition leaders who have disavowed the government of President Nicolas Maduro to control PDVSA's overseas assets. Maduro's ruling Socialist Party continues to control the company's day-to-day operations.
Ford Motor Co's Russian joint venture Ford Sollers will close two assembly plants and an engine factory in Russia, exiting the country's passenger vehicle market, resulting in charges of about $450 million to $500 million. The move is part of a restructuring that will see Russia's Sollers assume control of the venture, which is currently led by the U.S. automaker, the companies said in a statement on Wednesday. Industry sources told Reuters this month that Ford was considering closing Russian plants as it was reviewing operations in unprofitable regions.
NEW DELHI/MEXICO CITY, March 21 (Reuters) - India's Reliance Industries is selling fuels to Venezuela from India and Europe to sidestep sanctions that bar U.S.-based companies from dealing with state-run PDVSA, according to trading sources and Refinitiv Eikon data. Reliance had been supplying alkylate, diluent naphtha and other fuel to Venezuela through its U.S.-based subsidiary before Washington in late January imposed sanctions aimed at curbing the OPEC member's oil exports and ousting Socialist President Nicolas Maduro. At least three vessels chartered by the Indian conglomerate supplied refined products to Venezuela in recent weeks, and another vessel carrying gasoil is expected to set sail to the South American nation as well, according to the sources and data.
Reuters estimates that after sinking more than $9 billion into Venezuela in loans, acquisitions and project spending since 2010, Rosneft, which is majority owned by the Russian state, has yet to show a profit. At the end of 2018, Rosneft had spent approximately $1.5 billion more in Venezuela than it had earned in the form of oil allocated to it as dividends, according to Reuters' calculations. This figure is reached by calculating the value of oil Rosneft received from its joint venture projects and subtracting from that outstanding loans Rosneft issued to PDVSA, official payments Rosneft made to Venezuela for access to oil fields, Rosneft capital expenditure on the ventures, and the cost of extracting Rosneft's share of the oil.
At the end of 2015, managers at Rosneft, the Russian state-controlled oil firm, sounded the alarm to their bosses about the company's investments in Venezuela. Rosneft's local partner, Venezuelan state oil company PDVSA, owed it hundreds of millions of dollars, according to internal documents, and there seemed no prospect things would get better. "It will be like this for eternity," a Rosneft internal auditor wrote in an email to a colleague in November 2015, complaining there was no progress in getting PDVSA to explain a $700 million hole in the balance sheet of a joint venture.
Russia's top oil producer Rosneft said on Tuesday that U.S. statements that it had violated U.S. sanctions in its Venezuela activities were "groundless accusations". Pompeo said this week Rosneft was defying U.S. sanctions by buying oil from Venezuelan state oil firm PDVSA. Rosneft said it was not involved in politics and was conducting "purely commercial operations" in line with international law.
Russia's Rosneft is postponing an upgrade of hydrocracking units at five of its refineries, meaning the company will continue paying higher export taxes on the heavy products they produce, three sources told Reuters on Thursday. Russia embarked on a multibillion modernisation of its biggest refineries in 2011 following a fuel shortage crisis. The sources did not say why Rosneft was pushing back the schedule.
MOSCOW/LONDON (Reuters) - Rosneft is opening a trading arm in Singapore as part of a pivot to Asia, the world's biggest and fastest-growing energy-consuming region, where the Russian state oil major plans to manage new projects and boost oil sales. Six sources familiar with Rosneft's strategy told Reuters the arm, Rosneft Singapore, had been registered at the end of 2018 and that several employees would relocate from Moscow during the spring and summer of 2019. The office will likely be run by Andrey Bogatenkov, currently the first deputy head of crude and product exports for Rosneft in Moscow, three of the six sources said.
Ford Motor Co is considering closing two plants in Russia as part of its global plan to restructure operations in unprofitable regions, three industry sources told Reuters. If the closures go ahead, Ford would probably produce only light commercial vehicles in Russia, two sources said. After running up fourth-quarter losses in all regions outside North America, Ford is making cuts in Europe, closing down vehicle lines in South America and laying off thousands of workers in China.
Venezuela's Minister of Industry Tareck El Aissami will hold talks with the Russian government in Moscow on Friday, the RIA news agency cited a source as saying. Venezuela, an ally of Moscow, is in political ...
MEXICO CITY/MOSCOW/LONDON, Feb 21 (Reuters) - Venezuela is paying heavy premiums for fuel imports from Russia and Europe, with fewer than a dozen sellers seeing the risk as worth the reward after flows from the United States dried up because of sanctions, trading sources said and data showed. The South American nation exports crude but its refineries are in poor condition - hence the need to import gasoline and diesel for petrol stations and power plants, as well as naphtha to dilute its heavy oil.
Russia's largest oil company could take over and renovate a ruined palace once used by the tsars, under draft legislation provisionally backed on Tuesday by lawmakers. Rosneft, which is headed by Igor Sechin, a close ally of President Vladimir Putin, has long sought to rent the Ropsha Palace southwest of St Petersburg as part of a long-term deal. The once lavish palace, set in parkland, served as a residence for Russia's imperial Romanov dynasty before the 1917 Bolshevik Revolution and was later nationalised.
HOUSTON/MEXICO CITY/MOSCOW, Feb 13 (Reuters) - Venezuelan oil company PDVSA is looking to double exports to India as U.S. sanctions hobble deliveries to the United States and Europe. The United States and most Western countries have recognized opposition leader Juan Guaido as Venezuela's head of state, but President Nicolas Maduro retains the backing of Russia and China as well as control of state institutions including the military.
The Qatari sovereign wealth fund's acquisition of a stake in Russia's Rosneft sets the stage for collaboration between the Russian oil major and Qatar Petroleum, Doha's ambassador to Moscow said in an interview with Reuters. The Qatar Investment Authority (QIA) became a shareholder in Rosneft following the Russian state-controlled oil giant's privatisation in late 2016, and now holds a 19 percent stake. Qatar's ambassador to Russia, Fahad bin Mohamed Al-Attiyah, said QIA's stake opened the door to cooperation between Rosneft and Qatar Petroleum in projects around the world.
MOSCOW (Reuters) - Russian President Vladimir Putin will meet BP's (BP.L) chief executive Robert Dudley in Moscow on Thursday, Kremlin spokesman Dmitry Peskov told reporters. BP holds a 19.75 stake in ...