OAO Gazprom’s investment and dividend plans may suffer because of Ukraine’s failure to pay for natural gas supplies, the Russian export monopoly said.
Buying TNK-BP will give OAO Rosneft production and reserves that surpasses Exxon Mobil Corp., the world’s largest publicly traded oil company.
OAO Surgutneftegas, a Russian oil producer, said first-half profit rose 39 percent, helped by higher crude prices.
OAO Gazprom , the world’s biggest natural-gas producer, tripled first-quarter profit to a record after cold weather boosted demand at home and in Europe and the ruble appreciated against the dollar.
Most Russian stocks rose after entering a bull market last week as OAO Gazprom climbed on speculation the natural gas-export monopoly will secure outstanding payments from Ukraine following talks today.
The ruble weakened the most in more than two weeks and the Micex Index fell as gas producer OAO Gazprom slumped on concern it won’t be paid for supplies to Ukraine after talks on energy prices failed.
OAO Rosneft, the world’s largest publicly traded oil producer, fell to the lowest level in 10 months in Moscow after the U.S. included Chief Executive Officer Igor Sechin in a sanctions list.
"But even that won't be enough to keep up drilling activity at $60 a barrel."
- Alexei Kokin on Dec 16, 2014