reports
SURGUTNEFTEGAZ PAO loses on its star level and is downgraded to Slight...
The independent financial analyst theScreener just slightly lowered the general evaluation of SURGUTNEFTEGAZ PAO (RU), active in the Integrated Oil & Gas industry. The title has lost a star(s) at the fundamental level and now shows 3 out of 4 stars. Its exposure to market risk remains nonetheless the same and can be still described as defensive. theScreener slightly downgrades the general evaluation to Slightly Positive for the title on account of the lost star(s). As of the analysis date Januar...
- Andrey Gromadin
- Anna Kotelnikova
Сургутнефтегаз - ОÑвещение прекращено
Мы прекращаем аналитичеÑкое оÑвещение обыкновенных и привилегированных акций Сургутнефтегаза ввиду неопределенноÑти отноÑительно будущего раÑпорÑÐ¶ÐµÐ½Ð¸Ñ ÐºÐ¾Ð¼Ð¿Ð°Ð½Ð¸ÐµÐ¹ накопленными денежными ÑредÑтвами. Финальные оценки, предÑтавленные в данном обзоре, приводÑÑ‚ÑÑ Ñ‚Ð¾Ð»ÑŒÐºÐ¾ Ð...
- Andrey Gromadin
- Andrey Kuznetsov
- Anna Kotelnikova
- Anton Stroutchenevski
- Artem Vinogradov
- Cole Akeson
- Rodion Lomivorotov
- Svetlana Sukhanova
- Yuri Popov
CIS Market Daily - September 17, 2019
MARKET COMMENT - RUSSIA NEARLY ATOP EMS AS SAUDI ATTACK SEES OIL SURGEThe RTS climbed 2.0% yesterday to 1,396, versus a flat day for the MSCI EM and a weak performance (-1.2%) for the MSCI Europe. Oil and gas companies were easily in the lead. APAC markets continue to struggle this morning, but we expect Russia not to follow given the different relationship with oil prices.STORIES> Industrial production expands 2.6% y-o-y in 8m19> Fed set to cut at least twice, completing mid-cycle adjustment> R...
TRNFP TRANSNEFT PJSC PREF.
LKOH OIL COMPANY LUKOIL PJSC
SIBN NOVATEK JSC
GAZP GAZPROM NEFT PJSC
ROSN GAZPROM PJSC
SNGS ROSNEFT OIL CO.
NVTK SURGUTNEFTEGAS PJSC
OGZD ROSNEFT OIL CO. SPONSORED GDR REGS
TATNP NOVATEK JSC SPONSORED GDR REGS
GZPFY GAZPROM (GDR)
LKOD TATNEFT (PREF A)
SNGSP GAZPROM NEFT (GDR)
TRNF LUKOIL
HHR SURGUTNEFTEGAS PJSC PFD
TRANSNEFT
HEADHUNTER
- Andrey Gromadin
- Anna Kotelnikova
Russian Oil and Gas. September 2019 - The Competitive Edge of Russian ...
In this report, we focus on the competitive edge of Russian gas suppliers. European spot prices have plunged close to coal heating parity, which has temporarily rendered even Russian regulated gas sales a premium market. Meanwhile, LNG supply from the US, with a much reduced cost base, is set to increase in 2019-21. However, both Gazprom and Novatek have the ability to easily outcompete US LNG, as they have cash breakeven costs below $3/MMBtu, or a discount of $2/MMBtu to rising US LNG supply ca...
TRNFP TRANSNEFT PJSC PREF.
LKOH OIL COMPANY LUKOIL PJSC
SIBN NOVATEK JSC
GAZP GAZPROM NEFT PJSC
ROSN GAZPROM PJSC
SNGS ROSNEFT OIL CO.
NVTK SURGUTNEFTEGAS PJSC
OGZD ROSNEFT OIL CO. SPONSORED GDR REGS
TATNP NOVATEK JSC SPONSORED GDR REGS
GZPFY GAZPROM (GDR)
LKOD TATNEFT (PREF A)
SNGSP GAZPROM NEFT (GDR)
TRNF LUKOIL
SURGUTNEFTEGAS PJSC PFD
TRANSNEFT
- Andrew Keeley
- Andrey Gromadin
- Andrey Kuznetsov
- Anna Kotelnikova
- Anton Stroutchenevski
- Artem Vinogradov
- Cole Akeson
- Kirill Rogachev
- Nikolay Minko
- Rodion Lomivorotov
- Svetlana Sukhanova
CIS Market Daily - September 4, 2019
MARKET COMMENT - STRONG SURGUT, WEAK US DATA, TOPSY-TURVY BREXIT AND RISING APACThe RTS trimmed back 0.4% to 1,303, a better result than the MSCI EM's 1.1% decline. An unexpectedly weak US ISM manufacturing index that showed a contraction reignited fears of a global economic slowdown but spurred hopes for dovish moves to come from the Fed. APAC markets are mostly gaining this morning.STORIES> CBR preview: Third straight cut likely, but a pause may ensue> Surgutneftegaz: $50 bln cash question, up...
- Andrew Keeley
- Andrey Gromadin
- Andrey Kuznetsov
- Anna Kotelnikova
- Anton Stroutchenevski
- Artem Vinogradov
- Cole Akeson
- Kirill Rogachev
- Nikolay Minko
- Rodion Lomivorotov
- Svetlana Sukhanova
CIS Market Daily - 4 ÑентÑÐ±Ñ€Ñ 2019
КОММЕÐТÐРИЙ И ПРОГÐОЗ - ÐКЦИИ СУРГУТÐЕФТЕГÐЗРРЕЗКО ПОДОРОЖÐЛИ, Ð’ СШРВЫШЛРСЛÐБÐЯ СТÐТИСТИКÐ, СИТУÐЦИЯ С BREXIT ОСТÐЕТСЯ ÐЕЯСÐОЙ, РЫÐКИ ÐТРРÐÐ¡Ð¢Ð£Ð¢Ð˜Ð½Ð´ÐµÐºÑ Ð Ð¢Ð¡ отÑтупил на 0,4% до 1 303 пунктов, MSCI EM потерÑл 1,1%. Ðеожиданно Ñлабый Ð¸Ð½Ð´ÐµÐºÑ ISM зафикÑировал Ñокращение деловой активноÑти ...
- Andrey Gromadin
- Anna Kotelnikova
Сургутнефтегаз - Денежный Ð²Ð¾Ð¿Ñ€Ð¾Ñ Ð½Ð° $50 ...
> Объем денежных ÑредÑтв, аккумулированных Сургутнефтегазом (денежные ÑредÑтва и депозиты) превыÑил $50 млрд, доÑтигнув $51,5 млрд по ÑоÑтоÑнию на конец 1П19. Ðа наш взглÑд, чиÑтую денежную позицию такого размера Ñложно игнорировать.
- Alexey Kirichok
- Andrey Gromadin
- Andrey Kuznetsov
- Anna Kotelnikova
- Anton Stroutchenevski
- Artem Vinogradov
- Cole Akeson
- Irina Lapshina
- Rodion Lomivorotov
CIS Market Daily - July 31, 2019
MARKET COMMENT - FED, US SENATE DELIBERATIONS, AND A HEAVY COMPANY AND MACRO CALENDARGlobal markets were mostly in negative territory yesterday, the RTS slipping 0.1% to 1,353 and the MSCI ACWI falling 0.4%, with US/China woes and possibly pre-positioning for tonight's Fed decision among the main stories. Brent has gained more than 3% since Monday night, with a large drop in API inventories (6.0 mln bbl) among the drivers. APAC markets look weak this morning, taking their lead from the soft US s...
- Alexey Kirichok
- Andrey Gromadin
- Andrey Kuznetsov
- Anna Kotelnikova
- Anton Stroutchenevski
- Artem Vinogradov
- Cole Akeson
- Irina Lapshina
- Rodion Lomivorotov
CIS Market Daily - 31 Ð¸ÑŽÐ»Ñ 2019
КОММЕÐТÐРИЙ И ПРОГÐОЗ - Ð’ ЦЕÐТРЕ Ð’ÐИМÐÐИЯ ФЕДРЕЗЕРВ, СЕÐÐТ СШÐ, РТÐКЖЕ ÐœÐКРОСТÐТИСТИКРИ КОРПОРÐТИВÐЫЕ ÐОВОСТИГлобальные рынки вчера в оÑновном отÑтупали. Ð˜Ð½Ð´ÐµÐºÑ Ð Ð¢Ð¡ ÑнизилÑÑ Ð½Ð° 0,1% до 1 353 пунктов, MSCI ACWI - на 0,4%. Давление на рынок оказали опаÑениÑ, ÑвÑзанные Ñ Ñ‚Ð¾Ñ€Ð³Ð¾Ð²Ñ‹Ð¼Ð¸ переÐ...
- Aleksey Ryabushko
- Alexey Kirichok
- Andrey Gromadin
- Andrey Kuznetsov
- Anna Kotelnikova
- Anton Stroutchenevski
- Artem Vinogradov
- Cole Akeson
- Fedor Kornachev
- Irina Lapshina
- Oksana Mustiatsa
- Rodion Lomivorotov
- Svetlana Sukhanova
CIS Market Daily - May 6, 2019
MARKET COMMENT - NEW US TARIFF THREAT AGAINST CHINA SENDS MARKETS TUMBLING THIS MORNINGGlobal markets moved little over the first few days of Russia's May holidays, the MSCI EM slipping less than 0.1% since our last comment on Tuesday and the RDX down 0.1%. APAC markets are down sharply this morning after Trump unexpectedly announced he is considering new, even more widespread tariffs against Chinese imports. Futures and commodity prices suggest the dour market move will spread to the European s...
- Aleksey Ryabushko
- Alexey Kirichok
- Andrey Gromadin
- Andrey Kuznetsov
- Anna Kotelnikova
- Anton Stroutchenevski
- Artem Vinogradov
- Cole Akeson
- Irina Lapshina
- Oksana Mustiatsa
- Rodion Lomivorotov
- Svetlana Sukhanova
CIS Market Daily - 6 Ð¼Ð°Ñ 2019
КОММЕÐТÐРИЙ И ПРОГÐОЗ - УГРОЗРВВЕДЕÐИЯ Ð’ СШРÐОВЫХ ПОШЛИРÐРКИТÐЙСКИЙ ИМПОРТ СПРОВОЦИРОВÐЛРРЕЗКОЕ ПÐДЕÐИЕ РЫÐКОВ СЕГОДÐЯ УТРОМЗа Ð²Ñ€ÐµÐ¼Ñ Ð¿ÐµÑ€Ð²Ð¾Ð¼Ð°Ð¹Ñких каникул в РоÑÑии ощутимых изменений на глобальных рынках не произошло: поÑле выхода нашего поÑледнего ÐºÐ¾Ð¼Ð¼ÐµÐ½Ñ‚Ð°Ñ€Ð¸Ñ Ð¿Ð¾ Ñ€Ñ...
- Andrey Gromadin
- Anna Kotelnikova
Russian Oil and Gas. April 2019 - 1Q19 Earnings Season Early Birds
Novatek and Rosneft are set to kick off 1Q19 earnings season in the Russian oil and gas sector. We expect slightly stronger FCF generation for Rosneft and positive one-offs for Novatek. Despite weaker headline oil prices, upstream profitability should be stronger as export duties fell more than the crude price did (the so-called lag effect), with the export crude oil price less base taxes increasing by 13% Q-o-Q. In addition, the cost base was seasonally lower. In the oil sector in particular, F...
LKOH OIL COMPANY LUKOIL PJSC
BANE BASHNEFT
SIBN NOVATEK JSC
GAZP GAZPROM NEFT PJSC
ROSN GAZPROM PJSC
SNGS ROSNEFT OIL CO.
NVTK SURGUTNEFTEGAS PJSC
OGZD ROSNEFT OIL CO. SPONSORED GDR REGS
TATNP NOVATEK JSC SPONSORED GDR REGS
BANEP GAZPROM (GDR)
GZPFY TATNEFT (PREF A)
LKOD GAZPROM NEFT (GDR)
SNGSP LUKOIL
SURGUTNEFTEGAS PJSC PFD
- Aleksey Ryabushko
- Andrew Keeley
- Andrey Gromadin
- Andrey Kuznetsov
- Anna Kotelnikova
- Cole Akeson
- Fedor Kornachev
- Kirill Rogachev
- Oksana Mustiatsa
- Svetlana Sukhanova
CIS Market Daily - April 1, 2019
MARKET COMMENT - STRONG YTD GAINS, SKRIPAL NEWS, UKRAINE, VENEZUELA, BREXIT AND MOREEMs closed out the quarter on a positive note, the MSCI EM gaining 1.2% on Friday. DMs were also positive, their benchmark rising 0.6%. The RTS fell 0.8%, after a 1.4% drop shortly following a report from Bloomberg claiming that Skripal-related sanctions are imminent. A busy week ahead includes results of the Ukrainian and Turkish weekend elections, and ongoing developments in Venezuela, the Brexit process and US...
- Aleksey Ryabushko
- Andrew Keeley
- Andrey Gromadin
- Andrey Kuznetsov
- Anna Kotelnikova
- Cole Akeson
- Fedor Kornachev
- Kirill Rogachev
- Oksana Mustiatsa
- Svetlana Sukhanova
CIS Market Daily - 1 Ð°Ð¿Ñ€ÐµÐ»Ñ 2019
КОММЕÐТÐРИЙ И ПРОГÐОЗ - ХОРОШÐЯ ДИÐÐМИКРРОССИЙСКОГО РЫÐКРС ÐÐЧÐЛРГОДÐ; ТЕМЫ ДÐЯ - ДЕЛО СКРИПÐЛЕЙ, УКРÐИÐÐ, ВЕÐЕСУÐЛÐ, BREXITÐ’ пÑтницу Ð¸Ð½Ð´ÐµÐºÑ MSCI EM прибавил 1,2%. Ð˜Ð½Ð´ÐµÐºÑ MSCI World поднÑлÑÑ Ð½Ð° 0,6%. Ð˜Ð½Ð´ÐµÐºÑ Ð Ð¢Ð¡ поÑле ÑÐ¾Ð¾Ð±Ñ‰ÐµÐ½Ð¸Ñ Bloomberg о грÑдущих ÑанкциÑÑ… по делу Скрипалей упал на 1,4%, по итоÐ...
- Andrey Gromadin
- Andrey Kuznetsov
- Anna Kotelnikova
- Cole Akeson
- Nikolay Minko
- Oksana Mustiatsa
- Svetlana Sukhanova
CIS Market Daily - February 11, 2019
MARKET COMMENT - MTS SLUMPS ON FRIDAY; MSCI, SANCTIONS, US/CHINA, BREXIT ON AGENDARussia slightly outperformed on a globally flattish Friday, except for a more than 8% decline in the MTS ADR. US/China news flow was mixed over the weekend and will likely remain a major topic for global markets today. Other items on this week's agenda include MSCI's rebalancing, a US hearing on sanctions and the threat of another government shutdown, another Brexit plan for the UK Parliament, and more that we deta...
TATN TATNEFT PJSC
LKOH OIL COMPANY LUKOIL PJSC
BANE BASHNEFT
MTSS MOBILE TELESYSTEMS PJSC
SIBN GAZPROM NEFT PJSC
ROSN ROSNEFT OIL CO.
SNGS SURGUTNEFTEGAS PJSC
TATNP ROSNEFT OIL CO. SPONSORED GDR REGS
BANEP TATNEFT (PREF A)
GZPFY GAZPROM NEFT (GDR)
LKOD LUKOIL
SNGSP SURGUTNEFTEGAS PJSC PFD
- Andrey Gromadin
- Anna Kotelnikova
Russian Oil and Gas. February 2019 - Scoping Out Cash Flows Through th...
Russia's oil sector is in the midst of another - supposedly final - tax maneuver. The export duty is gradually being phased out, while excess profit taxation (EPT) is on the way in. Getting one's head around the complicated and oft-changing taxation of Russia's oil sector can be a daunting task, but understanding the intricacies can improve visibility on the sector's cash flows. Despite the oil price correction in 2H18 and ongoing changes to taxation, we believe the financial outlook for the oil...
- Alexey Kirichok
- Andrey Kuznetsov
- Anton Stroutchenevski
- Artem Vinogradov
- Cole Akeson
- Irina Lapshina
- Mikhail Krasnoperov
- Rodion Lomivorotov
- Sergei Konygin
CIS Market Daily - November 1, 2018
MARKET COMMENT - POSITIVE ASIAN AND BREXIT NEWS FLOW WHILE OIL SLUMPSThe MSCI EM and World (DM) climbed 2.1% and 1.3%, respectively. The MSCI Russia's 2.6% gain placed the market in the top quintile of EMs. Oil slumped more than 2% overnight amid signs of at least temporarily reviving supply and inventories. Progress on UK and EU Brexit negotiations and decent if not inspiring Chinese and Japanese PMIs support sentiment this morning, while the BoE decision, political discussions and results from...
- Alexey Kirichok
- Andrey Krylov
- Andrey Kuznetsov
- Anna Kotelnikova
- Anton Stroutchenevski
- Artem Vinogradov
- Cole Akeson
- Irina Lapshina
- Maxim Afanasiev
- Mikhail Krasnoperov
- Rodion Lomivorotov
- Sergei Konygin
- Svetlana Sukhanova
CIS Market Daily - 1 ноÑÐ±Ñ€Ñ 2018
КОММЕÐТÐРИЙ И ПРОГÐОЗ - ÐОВОСТИ ИЗ ÐЗИИ И СООБЩЕÐИЯ О BREXIT ПОЗИТИВÐЫ, ОДÐÐКО ЦЕÐЫ ÐÐ ÐЕФТЬ УПÐЛИИндекÑÑ‹ MSCI EM и MSCI World (индикатор развитых рынков) выроÑли ÑоответÑтвенно на 2,1% и 1,3%. Ð‘Ð»Ð°Ð³Ð¾Ð´Ð°Ñ€Ñ Ñ€Ð¾Ñту MSCI Russia на 2,6% РоÑÑÐ¸Ñ Ð¾Ð¿ÐµÑ€ÐµÐ´Ð¸Ð»Ð° 80% развивающихÑÑ Ñ€Ñ‹Ð½ÐºÐ¾Ð². Ðефть за ночь подешевела б...
PHOR PHOSAGRO PJSC SPONSORED GDR REGS
MGNT MAGNIT PJSC
MAGN MAGNITOGORSK IRON & STEEL WORKS PJSC
GMKN MMC NORILSK NICKEL PJSC
SNGS SURGUTNEFTEGAS PJSC
5M71 PHOSAGRO PJSC
MMK MAGNIT PJSC SPONSORED GDR REGS
MNOD MAGNITOGORSK IRON & STEEL WORKS (GDR)
SNGSP NORILSK NICKEL
SURGUTNEFTEGAS PJSC PFD
- Anna Kotelnikova
- Anna Kotelnikova
Сургутнефтегаз - Результаты за 2К18 по Р...
Сургутнефтегаз предÑтавил отчетноÑÑ‚ÑŒ по РСБУ за 2К18. ЧиÑÑ‚Ð°Ñ Ð¿Ñ€Ð¸Ð±Ñ‹Ð»ÑŒ ÑоÑтавила 309 млрд. руб. ($5,0 млрд.), объем денежных ÑредÑтв и депозитов на конец периода доÑтиг $40,6 млрд.
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