(Bloomberg) -- Russian oil stocks including OAO
Lukoil are worth less than previously estimated because of high
taxes, rising costs and the possibility the companies will
struggle to pump oil from newer fields, Citigroup Inc. said.
The world's biggest financial-services company cut its price
estimates for six Russian oil companies, including Lukoil, the
country's second-largest oil producer, even as it raised its
projection for crude oil prices, according to a report by
analysts James Neale and Alexander Korneev.
Read more at Bloomberg Stocks News
Lukoil are worth less than previously estimated because of high
taxes, rising costs and the possibility the companies will
struggle to pump oil from newer fields, Citigroup Inc. said.
The world's biggest financial-services company cut its price
estimates for six Russian oil companies, including Lukoil, the
country's second-largest oil producer, even as it raised its
projection for crude oil prices, according to a report by
analysts James Neale and Alexander Korneev.
Read more at Bloomberg Stocks News
1 comment:
This could be a good thing for these stocks. Generating lots of buzz initially, now the the buying potential makes them a more desireable stock, knowing full well they will post some positive gains....They are pumping oil you know!
http://www.whiskeyandgunpowder.com/ppc/RussianOilReport2.html
This article will tell you more
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