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MarketScreener Homepage  >  Equities  >  Moscow Micex - RTS  >  Rosneft Oil Company    ROSN   RU000A0J2Q06

ROSNEFT OIL COMPANY

(ROSN)
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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.
ACCESS CO., LTD. -0.96% 928 End-of-day quote.-2.83%
CHANGE INC. 4.36% 10780 End-of-day quote.641.40%
DRAFT INC. 7.53% 1600 End-of-day quote.0.00%
GAZPROM -1.57% 181.6 End-of-day quote.-29.17%
LONDON BRENT OIL -0.37% 43.06 Delayed Quote.-35.92%
PUBLIC JOINT STOCK COMPANY GAZPROM -1.30% 4.792 Delayed Quote.-41.76%
ROSNEFT OIL COMPANY -0.09% 378.75 End-of-day quote.-15.78%
THE EASTERN COMPANY -5.82% 20.71 Delayed Quote.-32.17%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) 0.88% 75.65 Delayed Quote.20.60%
WTI 0.04% 40.876 Delayed Quote.-33.38%
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Financials (USD)
Sales 2020 78 165 M - -
Net income 2020 2 730 M - -
Net Debt 2020 56 232 M - -
P/E ratio 2020 62,9x
Yield 2020 2,29%
Capitalization 47 374 M 47 374 M -
EV / Sales 2020 1,33x
EV / Sales 2021 1,06x
Nbr of Employees 325 600
Free-Float 11,2%
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Technical analysis trends ROSNEFT OIL COMPANY
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Mean consensus OUTPERFORM
Number of Analysts 16
Average target price 6,11 $
Last Close Price 4,97 $
Spread / Highest target 63,0%
Spread / Average Target 22,9%
Spread / Lowest Target -17,5%
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Managers
NameTitle
Igor Ivanovich Sechin Chairman-Management Board & Deputy Chairman
Gerhard Schroeder Chairman
Petr Ivanovich Lazarev Finance Director
Artur Matthias Warnig Deputy Chairman
Robert W. Dudley Non-Executive Director
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ROYAL DUTCH SHELL PLC-56.24%104 784
TOTAL SE-36.77%98 009
GAZPROM-29.17%57 972