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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Public Joint Stock Company Rosneft Oil Company    ROSN

PUBLIC JOINT STOCK COMPANY ROSNEFT OIL COMPANY

(ROSN)
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Rosneft Oil : Board of Directors held a meeting in person

11/17/2020 | 10:05am EST

On November 16, 2020, Rosneft's Board of Directors held a meeting. During the meeting, the Board of Directors approved the sale of 10% in the charter capital of Vostok Oil LLC to Trafigura PTE LTD.

At the meeting, Rosneft's Board of Directors also reviewed the progress of the Vostok Oil project (hereinafter, the Project). The proven resource base of the Project for liquid hydrocarbons is 6 billion tonnes (44 billion barrels).

To meet the energy needs of the project, the Company entered into an agreement with Inter RAO PJSC for a set of works to design and construct energy infrastructure, which includes power centres with a total capacity of 2.5 GW, as well as more than 3.5 thousand km of power lines.

In order to organize the export of products from the Vostok Oil project, the Zvezda shipyard placed an order for a series of 10 tankers of high ice class with deadweight 120 thousand tonnes adapted for operation on the Northern Sea Route. In general, it is planned to build 50 ships of various classes in the interests of the Project.

Over 20,000 production and injection wells are to be drilled under the Vostok Oil project, so the Company paid special attention to selecting drilling complexes. Based on the results of tender procedures, the Board of Directors approved a long-term contract for supply of 100 drilling rigs designed for operation in the Far North.

The project will take into account the most stringent environmental requirements. Vostok Oil's top priority is preserving the fragile nature of the region. High reliability and safety indicators of equipment and production will ensure minimal environmental impact.

Work is continuing to provide the Project with resources and production facilities. In particular, an agreement has been reached with KAMAZ PJSC to supply transport vehicles and special equipment and to establish service centres at the oil fields. At the initial stage the demand is up to 2.5 thousand vehicles. In the future, the demand may grow to 6 thousand.

The Vostok Oil project will provide a significant multiplier effect for the whole Russian economy, additionally creating tens of thousands of jobs and service personnel.

On the whole, as calculations by specialists from the Institute of Forecasting of the Russian Academy of Sciences show, the project implementation creates additional incentives for localization of high-tech equipment and provides an increase in domestic demand for products of various industries equivalent to 2% of GDP per year.

Rosneft Information Division
Tel.: +7 (495) 411 54 20
Fax: +7 (495) 411 54 21
November 17, 2020

Disclaimer

OJSC Oil Company Rosneft published this content on 17 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 November 2020 15:04:09 UTC


© Publicnow 2020
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Financials (USD)
Sales 2020 78 511 M - -
Net income 2020 -82,2 M - -
Net Debt 2020 54 803 M - -
P/E ratio 2020 -91,8x
Yield 2020 0,70%
Capitalization 61 577 M 61 577 M -
EV / Sales 2020 1,48x
EV / Sales 2021 1,21x
Nbr of Employees 335 000
Free-Float 11,2%
Chart PUBLIC JOINT STOCK COMPANY ROSNEFT OIL COMPANY
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Public Joint Stock Company Rosneft Oil Company Technical Analysis Chart | ROSN | US67812M2070 | MarketScreener
Technical analysis trends PUBLIC JOINT STOCK COMPANY ROSNEFT OIL COMPANY
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 6,98 $
Last Close Price 6,48 $
Spread / Highest target 25,0%
Spread / Average Target 7,68%
Spread / Lowest Target -30,6%
EPS Revisions
Managers and Directors
NameTitle
Igor Ivanovich Sechin Deputy Chairman, President & CEO
Gerhard Schroeder Chairman
Petr Ivanovich Lazarev Finance Director
Artur Matthias Warnig Deputy Chairman
Robert W. Dudley Non-Executive Director
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