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MarketScreener Homepage  >  Equities  >  MOSCOW INTERBANK CURRENCY EXCHANGE  >  NK Rosneft' PAO    ROSN   RU000A0J2Q06

NK ROSNEFT' PAO (ROSN)
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NK Rosneft' : China's CEFC, Rosneft to study South China petrochemical complex

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11/10/2017 | 10:53am CEST
FILE PHOTO: Shadow of worker is seen next to logo of Russia's Rosneft oil company at central processing facility of Rosneft-owned Priobskoye oil field outside Nefteyugansk

BEIJING/MOSCOW (Reuters) - Private conglomerate CEFC China Energy and Russia's largest oil producer Rosneft have agreed to study the possibility of building a petrochemical complex in South China, Rosneft said on Friday.

The deal will deepen strategic cooperation between Rosneft and CEFC, which agreed in September to buy 14.2 percent of the Kremlin's energy champion in a deal valued at over $9 billion (6.84 billion pounds).

Rosneft and CEFC signed an agreement to carry out a joint preliminary study into the possible construction of a petrochemical plant in China's Hainan province on the sidelines of a summit of Asia-Pacific Economic Cooperation (APEC) leaders in Vietnam, the Russian company said.

"The companies will set up joint working teams to discuss technical configurations of the project as well as commercial and economic matters," Rosneft said in a statement.

The companies will also jointly analyse the long-term supply of feedstock for the proposed new plant, it said.

Earlier on Friday, China Business Network reported, citing a CEFC executive, that the companies had agreed to build a petrochemical complex using liquefied petroleum gas and condensate to make petrochemicals.

The complex would be built in Yangpu, a port in China's southernmost island province of Hainan, China Business Network reported, citing a CEFC executive.

"Once a feedstock supplier joins the investment of the petrochemical facility ... the supply chain will be strengthened further and shall benefit the project's profitability," Cai Feng, an investment official of CEFC was quoted as saying.

A senior company source at CEFC said part of the feedstock supply may come from Abu Dhabi National Oil Company (ADNOC).

CEFC operates an oil tank farm at Yangpu used partly as a state crude oil reserve, the company's largest physical oil asset in China.

The companies did not provide any financial details of the deal or specify if it was a binding agreement.

A CEFC spokesman could not immediately comment.

(Reporting by Chen Aizhu in BEIJING and Vladimir Soldatkin in MOSCOW; Editing by Tom Hogue and Adrian Croft)

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Financials ($)
Sales 2018 121 B
EBIT 2018 17 085 M
Net income 2018 7 528 M
Debt 2018 63 591 M
Yield 2018 4,81%
P/E ratio 2018 8,89
P/E ratio 2019 6,89
EV / Sales 2018 1,14x
EV / Sales 2019 1,09x
Capitalization 74 614 M
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 7
Average target price 7,59 $
Spread / Average Target 7,9%
EPS Revisions
Managers
NameTitle
Igor Ivanovich Sechin Chairman-Management Board & Vice Chairman
Gerhard Schroeder Chairman
Petr Ivanovich Lazarev Finance Director
Valeriy Vladimirovich Nikitin Director-Information Technology
Artur Matthias Warnig Deputy Chairman
Sector and Competitors
1st jan.Capitalization (M$)
NK ROSNEFT' PAO74 614
ROYAL DUTCH SHELL2.18%274 445
PETROCHINA COMPANY9.15%222 607
TOTAL16.30%166 123
PETROLEO BRASILEIRO SA PETROBRAS60.78%94 772
EQUINOR26.37%90 472