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    EQE   AU000000EQE3

EQUUS MINING LIMITED

(EQE)
  Report
Delayed Australian Stock Exchange  -  11:58:55 2023-02-02 pm EST
0.0650 AUD   -1.52%
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2022Equus Mining Limited - FURTHER HIGH-GRADE MINERALISATION INTERSECTED ALONG APPALOOSA FAULT 15.5m @ 3.32 g/t AuEq1 including 7m @ 5.2 AuEq1 (4.27 g/t Au, 69.9 g/t Ag
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Exclusive-EU embargo diverts Lukoil's Caspian oil to CPC link

11/30/2022 | 05:33am EST
FILE PHOTO: Italy works to keep Lukoil refinery going as sale talks drag on

LONDON (Reuters) - Russia's Lukoil will stop exports from its Caspian oilfields via the Baku-Tbilisi-Ceyhan (BTC) pipeline from December due to Western sanctions and divert them to the Caspian Pipeline Consortium (CPC) system, four sources with knowledge of the matter told Reuters.

A European Union embargo from Dec. 5 is set to ban European buyers from purchasing and transporting Russian oil.

As a major route for Kazakhstan's oil, CPC oil exports are excluded from the ban.

"Russian oil is leaving BTC, the reason is sanctions, BTC doesn't let Russian oil in," - one of the sources said. The other sources, who all spoke on condition of anonymity because of the sensitivity of the issues, said the decision was led by BTC's western shareholders.

Lukoil supplies oil to the BTC from its fields on the Caspian Sea - the Yury Korchagin and Filanovsky. The volume exported from the fields via the route is about 2 million tonnes per year.

Lukoil's oil exports via the CPC are seen growing to 660,000 tonnes in December from 364,000 tonnes in November, a preliminary loading plan for December and Reuters calculations show.

Lukoil and CPC declined to comment. SOCAR, which has been purchasing the Russian company's oil for transport via BTC, and BP, which leads the BTC consortium, did not immediately answer Reuters' requests for comment.

The CPC is the main route for the export of Kazakhstan's oil, accounting of more than 80% of the total volumes. About 10% of oil shipped via the CPC originates from Russia.

CPC Blend exported via the CPC pipeline currently trades at a significant discount to Azeri BTC oil, which is supplied via BTC.

BTC has a capacity of 1 million bpd, but it is not used in full. This year exports are planned at 660,000 bpd.

The main exporters of the Azeri BTC oil are Azerbaijan's SOCAR and BP, as well as Hungarian company MOL, Exxon and Turkey's TPAO.

(Reporting by Reuters reporters; editing by Barbara Lewis)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BRENT OIL -2.83% 79.73 Delayed Quote.-4.54%
EQUUS MINING LIMITED -1.52% 0.065 Delayed Quote.-15.58%
EXXON MOBIL CORPORATION 0.69% 111.92 Delayed Quote.0.77%
LUKOIL -1.14% 3911 End-of-day quote.0.00%
SOCAR INC. 2.75% 20200 End-of-day quote.-7.13%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) -0.11% 70.55 Delayed Quote.-2.67%
US DOLLAR / TURKISH LIRA (USD/TRY) 0.11% 18.8186 Delayed Quote.0.59%
WTI 0.00% 73.419 Delayed Quote.-5.67%
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Financials
Sales 2022 15,9  11,1  11,1 
Net income 2022 -3,98 M -2,77 M -2,77 M
Net cash 2022 1,90 M 1,32 M 1,32 M
P/E ratio 2022 -3,81x
Yield 2022 -
Capitalization 12,6 M 8,79 M 8,79 M
EV / Sales 2021 -
EV / Sales 2022 976 753x
Nbr of Employees -
Free-Float 66,4%
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Number of Analysts 0
Last Close Price 0,07
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Managers and Directors
John Richard Braham Managing Director & Executive Director
Richard Tapia Chief Financial Officer
Mark Hamish Lochtenberg Non-Executive Chairman
Damien Koerber Chief Operating Officer & Executive Director
Robert Ainslie Yeates Non-Executive Director
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