"Surgutneftegas" and NLMK benefit from the weak rouble.

"The revenue for the companies is in dollars, while the majority of their costs are in roubles, so the weak rouble makes the costs in dollar terms less", - the UBS analyst, Konstantin Cherepanov is happy for the raw materials and metallurgical companies. According to Bank of America Merrill Lynch estimates the revenue of the oil companies can grow by almost 5% with the 10% devaluation of the rouble. The effect of a weak rouble is more visible for the metallurgists - this year's change of course will give some of them an additional 12% rouble revenue.

Oil and Gas.

The underrun of the oil and gas industry is due to the fact that rapid devaluation only compensates for the drop in the oil prices. So raw materials of the Brent brand fell by 16.8% to $ 92.19 per barrel since the beginning of the year, the rouble over the same period depreciated against the American currency by 22.5%. In this case, since the beginning of Q3 the oil and the ruble are on a par – the currency fell within that period by 18.2%, and the oil - by 18%.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Oil and Gas, Metals and Mining, News from Russia and neighbouring countries
42a Pushkina Street; Ufa, Bashkortostan 450076; Russia
E 54° 43.48836" N 55° 55.52346"
Telephone: +7 927 303 00 25

Theme by Danetsoft and Danang Probo Sayekti inspired by Maksimer