RUS | ENG | All
Enter the email or login, that you used for registration.
If you do not remember your password, simply leave this field blank and you will receive a new, along with a link to activate.

Not registered yet?
Welcome!

2018-09-03 15:05:00

UNIMPORTANT RUSSIA SANCTIONS

UNIMPORTANT RUSSIA SANCTIONS

FT -  Higher energy prices and a weakened rouble saw second-quarter profits soar at three of Russia’s largest oil and gas groups, underlining a strong earnings season for the country’s energy industry that has weathered international sanctions to reap strong earnings.

Gazprom, the world's largest gas producer, said that second-quarter profits had risen an annual 440 per cent, as both exports to Europe and average prices jumped.

Lukoil, the country's second-largest oil producer, reported a 21 per cent rise in profits, while profits more than tripled at Surgutneftegas, the country's number four crude producer.

"Similar to other Russian oil producers, Lukoil benefited from 20 per cent spike in the rouble-based oil price," said Kirill Tachennikov, senior oil and gas analyst at BCS Global Markets in Moscow.

Those results boosted energy stocks across Moscow's main exchange, with the oil and gas index up 1.7 per cent at 1530, outpacing a 1.1 per cent rise across the wider market. Gazprom shares were up 1 per cent, Lukoil shares were 1.3 per cent higher and Surgutneftegas stock was up 1.7 per cent.

A higher crude price because of a deal between Opec and Russia to curb production and a weaker rouble caused by US sanctions against Moscow have boosted earnings across Russian energy companies this year, prompting increased dividends and share buybacks. Average oil prices were 11 per cent higher during the April-June quarter compared with a year previously, while the rouble was 9 per cent weaker.

At the same time, those sanctions have had very little impact on production and exports of Russian oil and gas. Gazprom, which has a monopoly on Russia's gas pipeline exports, sold record amounts of gas to Europe in 2017 and expects to further increase shipments this year.

The Kremlin-controlled company said on Wednesday that profit in the second quarter was Rbs259.2bn ($3.8bn), up from Rbs47.9bn a year ago and comfortably above analyst estimates.

Gazprom said that during the quarter it had sold 57bn cubic metres of gas to Europe and other non-CIS countries, at an average price of $238.40 per million cubic metre. A year ago, the same countries bought 53.5 bcm at $192.40 per mcm.

While the weaker rouble boosts sales income, it is a double-edged sword for the company, which has large borrowings denominated in dollars and euros.

Gazprom said that the sliding local currency had caused a roughly $2bn foreign exchange loss during the three months to June 30, and had seen its total debt inch up to Rbs2.4tn, despite an increase in its cash holdings.

Lukoil, Russia's largest private oil producer, reported a 20.6 per cent rise in second-quarter profit, slightly below market expectations. Sales rose an annual 51 per cent to Rbs2.06tn, while free cash flow rose 68 per cent to Rbs37.2bn.

Surgutneftegas said its profit for the first six months of the year rose an annual 338 per cent to Rbs390bn. Sales during the period were Rbs857bn, up from Rbs639bn a year previously.

 -----

Earlier:

Russia Sanctions
2018, August, 27, 14:10:00

U.S. HAS UKRAINE

REUTERS - Ukraine government should consider looking for alternatives to natural gas supplies from Russia.

 

 
 Russia Sanctions
2018, August, 22, 12:45:00

AZERBAIJAN'S GAS FOR GERMANY

FT - The German official welcomed an agreement reached earlier this month between the Caspian littoral states — Russia, Iran, Kazakhstan, Azerbaijan and Turkmenistan — on a legal framework for sharing the Caspian, the world’s largest inland body of water.

 Russia Sanctions
2018, August, 13, 14:00:00

RUSSIA SANCTIONS AGAIN

PLATTS - "This has been discussed for a while with Russia's largest trading partners such as India and China. Even Arab countries are starting to think about it... If they do create difficulties for our Russian banks, all we have to do is replace [dollars],"

 Russia Sanctions
2018, August, 13, 13:55:00

GERMANY VS U.S. SANCTIONS

REUTERS - “This trade war is slowing down and destroying economic growth - and it creates new uncertainties,” Altmaier told Bild am Sonntag newspaper, adding that consumers suffered the most because higher tariffs were driving up prices.

 

 Russia Sanctions
2018, August, 3, 10:00:00

THE NEW RUSSIA SANCTIONS

REUTERS - The bill includes restrictions on new Russian sovereign debt transactions, energy and oil projects and Russian uranium imports, and new sanctions on Russian political figures and oligarchs.

 

 

 Russia Sanctions
2018, July, 30, 13:45:00

U.S. LNG FOR EUROPE

NYT - Demand for natural gas — a cleaner-burning fossil fuel than coal or oil — is rising worldwide, and the United States is a growing supplier of liquefied natural gas, or L.N.G. The European Union, meanwhile, wants to diversify its energy supply, which remains somewhat dependent on Russia, with which it has a difficult relationship.

 Russia Sanctions
2018, July, 25, 10:15:00

ABSURD U.S. SANCTIONS

PLATTS - "I have not seen this bill, we need to study it from a legal point of view, but based on what the media has written about it, this is, in my opinion an absurd bill that offsets all market rules," Novak told journalists, Prime reported.

 

 

Tags: USA, RUSSIA, OIL, GAS, SANCTIONS
Chronicle:
UNIMPORTANT RUSSIA SANCTIONS
2022, June, 24, 11:34:00
6TH ANNUAL LNG SUMMIT USA
The 6th Edition of Wisdom’s Much Acclaimed Annual LNG Summit Will Be Held Live in Houston - PREPARING THE INDUSTRY FOR THE RISE IN DEMAND FOR LNG
UNIMPORTANT RUSSIA SANCTIONS
2022, June, 24, 11:33:00
9TH INTERNATIONAL LNG CONGRESS LNGCON 2023
9th International LNG Congress (LNGCON 2023) 6-7 March, 2023 Link to the Congress website: https://bit.ly/3tXVmr7
UNIMPORTANT RUSSIA SANCTIONS
2022, June, 24, 11:30:00
RUSSIAN OIL PROTECTION
Certification by the Indian Register of Shipping (IRClass), one of the world's top classification companies, provides a final link in the paperwork chain - after insurance coverage - needed to keep state-owned Sovcomflot's tanker fleet afloat and delivering Russian crude oil to overseas markets.
UNIMPORTANT RUSSIA SANCTIONS
2022, June, 24, 11:20:00
U.S. LNG EXPORTS DOWN BY 17%
Freeport LNG is one of seven LNG export facilities operating in the United States.
UNIMPORTANT RUSSIA SANCTIONS
2022, June, 24, 11:15:00
ЭНЕРГИЯ РУССКОЙ АРКТИКИ
Обсуждалось строительство газовозов и танкеров-челноков. В частности, 15 газовозов запланированы к постройке на судоверфи «Звезда». В планах – строительство дополнительных судов для транспортировки продукции инвесторов по Севморпути.
UNIMPORTANT RUSSIA SANCTIONS
2022, June, 24, 11:10:00
U.S. SMR FOR POLAND
Last Energy's SMR technology is based on a pressurised water reactor with a capacity of 20 MWe or 60 MWt.
UNIMPORTANT RUSSIA SANCTIONS
2022, June, 24, 11:05:00
PAKISTAN ENERGY CRISIS
This is the third time this month that Pakistan failed to complete an LNG tender for July, and the country’s inability to purchase fuel threatens to exacerbate electricity shortages just as hotter weather boosts air conditioning and power demand.
All Publications »