Related Articles
Russian producers saw a solid Q1
Opinion
Forward article link
Share PDF with colleagues

Russian producers set for good year

First quarter results thus far point to a solid recovery. The rest of the year could be even better

It is clear, midway through the Russian oil and gas reporting season, that there has been a solid rebound in the first quarter of 2021 after a 2020 devastated by the Covid pandemic. Revenue and Ebitda are up by 11-23pc and 14-66pc quarter-on-quarter, respectively, for the companies that have reported. And we expect favourable oil prices (+32pc year-to-date), a weaker rouble due to geopolitical risks, and Opec+ easing production curbs—+2-4pc year-on-year production growth is anticipated for Russian oil firms—to provide a strong basis for full-year 2021 financials. Russian companies are highly likely to return to investors’ radars, given they are trading at 50pc profit-to-earnings discounts

Comments

Comments

{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
Muscat faces up to oil twilight
15 June 2021
The Omani government’s focus is reluctantly shifting to managing output decline
Indebted KrisEnergy set for liquidation
15 June 2021
Disappointing Cambodian exploration results seal Singaporean independent’s fate
India needs tax and regulatory consistency – Cairn
15 June 2021
Rules for new prospects should be extended to mature fields, according to the domestic producer
Sign Up For Our Newsletter
Project Data
Maps
PE Store
Social Links
Social Feeds
Featured Video