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

NK ROSNEFT' PAO

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Russia open to private companies developing energy-rich Arctic shelf - minister

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09/03/2019 | 09:24pm EDT
St. Petersburg International Economic Forum

VLADIVOSTOK, Russia (Reuters) - Russia's natural resources and environment minister said on Wednesday he supported allowing private oil and gas companies to work on the Arctic shelf.

Speaking to reporters at an economic forum in the far eastern Russian city of Vladivostok, the minister, Dmitry Kobylkin, said he supported "any decision linked to an increase in investment in projects related to hydrocarbons."

The Russian economy is heavily reliant on natural resources and the Arctic's vast oil and gas reserves are expected to become more accessible as climate change melts the ice and technology advances.

"We clearly understand that Russia's Arctic zone has not been studied enough," Kobylkin said in separate comments to TASS news agency. "Of course we would like to study it more, but the government cannot allow itself to make such investments. It's very expensive."

In August deputy prime ministers Dmitry Kozak and Yuri Trutnev proposed that Russia's Arctic shelf be opened to private investors and proposed to draft legislation to expand access to it.

Only state-controlled Gazprom and Rosneft are currently authorised to operate on Russia's Arctic shelf. Kobylkin told TASS that his ministry was also in talks with Gazprom and Rosneft to increase their Arctic exploration.

(Reporting by Vladimir Soldatkin; Writing by Gabrielle Tétrault-Farber; Editing by Leslie Adler)

Stocks mentioned in the article
ChangeLast1st jan.
GAZPROM PAO End-of-day quote.
GAZPROM PAO (EDR) 0.06% 7.25 Delayed Quote.63.83%
LONDON BRENT OIL 0.81% 68.7 Delayed Quote.11.63%
NK ROSNEFT' PAO End-of-day quote.
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) 0.18% 64.1097 Delayed Quote.-7.70%
WTI 0.58% 62.27 Delayed Quote.23.74%
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Financials (USD)
Sales 2019 127 B
EBIT 2019 19 510 M
Net income 2019 10 266 M
Debt 2019 60 610 M
Yield 2019 6,89%
P/E ratio 2019 6,42x
P/E ratio 2020 5,74x
EV / Sales2019 0,49x
EV / Sales2020 0,40x
Capitalization 1 106 M
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 9
Average target price 8,44  $
Last Close Price 6,71  $
Spread / Highest target 53,4%
Spread / Average Target 25,7%
Spread / Lowest Target 4,25%
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
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NK ROSNEFT' PAO70 796
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PETROCHINA COMPANY-12.90%155 097
TOTAL3.54%134 267
PETROLEO BRASILEIRO SA PETROBRAS18.52%91 527
GAZPROM PAO (EDR)63.83%79 970