Open Joint Stock Co Oil co LUKOIL Stock News

Lukoil, which observers said had maintained some independence from Putin, is now caught in a high-stakes economic battle due to the Russian invasion of Ukraine.

DAY Ratings agency Fitch on Saturday downgraded the debt rating of 28 Russian natural resource groups and said “default of some sort seems likely.” Fitch downgraded gas giant Gazprom, oil company Lukoil, miners Rusal, Polyus, Evraz and 23 other resource companies from B to ''CC mostly'', meaning it is ''likely'' that these companies are […] The post Sanctions against Russia: likely default by Gazprom and other Russian hydrocarbon companies first appeared on The Bobr Times .

By Joan Faus BARCELONA (Reuters) – Spanish oil operator Meroil has no plans to sell its 50% stake in a joint venture with Russia’s Lukoil in a Barcelona oil terminal due to the conflict in Ukraine, a top executive told Reuters on Friday.

Spanish oil operator Meroil has no plans to sell its 50% stake in a joint venture with Russia''s Lukoil in a Barcelona oil terminal due to the conflict in Ukraine, a top executive told Reuters on Friday.

PJSC LUKOIL press release (LUKOY): FY GAAP EPS of RUB1129.17.Revenue of RUB9.45T (+67.6% Y/Y).

Spanish oil operator Meroil has no plans to sell its 50% stake in a joint venture with Russia's Lukoil in a Barcelona oil terminal due to the conflict in Ukraine, a top executive told Reuters on Frida

Senegalese President and chair of the African Union Macky Sall has asked Russian President Vladimir Putin to seek a lasting cease-fire in Ukraine. Sall’s talk with Putin comes just a week after Senegal abstained from a U.N. vote to condemn the Russian invasion. African nations have interests in seeing an end to the war but also in not upsetting Putin. Sall’s request as chairman of the African Union Wednesday was a contrast to his actions as Senegalese president a week prior, when Senegal joined 16 other African countries in abstaining from a U.N. vote to condemn the Russian invasion. Senegal is considered a beacon of democracy in West Africa, so the move came as a surprise to many. “[Non-alignment] has been the default posture for many African countries over the years where they prefer not to get involved or not to get in between great power rivalries,” said Joseph Siegle, the director of research for the Africa Center for Strategic Studies. “And so, it isn’t a vote of support for Russia, but a vote for trying to maintain neutrality.” Russia has a plethora of business dealings throughout the African continent.

Outrage over invasion of Ukraine leaves executives under pressure to resign and governance mechanisms in shreds The Order of Friendship of the Russian Federation is a star-shaped golden medal, encrusted with blue enamel, showing a map of the world. Last year, as Russia was beginning to ration supplies of gas to Europe and Vladimir Putin was planning his assault on Ukraine, Roger Munnings announced he had been named as the medal’s latest recipient. The former long-serving head of KPMG’s Russian operations, Munnings is a director of three firms of major strategic importance Putin’s regime: Lukoil, Nornickel and the banking to telecoms conglomerate Sistema. Munnings is a busy man. As well as his three directorships – which pay out an estimated $707,000 a year combined, according to company filings – he also heads the Russo-British Chamber of Commerce, which promotes closer ties between the two countries. Now, these ties are fast unravelling as western governments tighten sanctions on Moscow and businesses cut all dealings with Russia.

Murphy aims to sever financial ties with Russia in response to its invasion of Ukraine, but he noted that Lukoil stations are franchised by New Jersey locals.

Murphy aims to sever financial ties with Russia in response to its invasion of Ukraine, but he noted that Lukoil stations are franchised by New Jersey locals.

Putin Orders Companies To Make Debt Payments To Foreign Creditors In Rubles Last week, following reports that as part of its countersanctions, the Russian central bank had banned payments to foreign owners of ruble bonds known as OFZ, we said that it was just a matter of days if not hours, before Russia was in technical default. And sure enough, late on Friday Bloomberg reported that ahead of the weekend foreign holders of Russia’s local-currency government bonds still haven’t received coupon payments three days after they were due, citing financial data provider CBonds and five investors at American and European firms. Russia’s National Settlement Depository received the interest - 11.2 billion rubles ($98 million) on 339 billion rubles of bonds known as OFZs due February 2024 - from the government on Wednesday and paid local investors, they said. But international investors weren’t paid because of the Russian central bank’s order barring foreign payments. “Money is in NSD, payments to Russian bondholders were made,” said Elena Avdonicheva, Head of Russia & CIS Fixed Income Department at CBonds. “Payments to non-residents weren’t made due to government ban, this money is frozen in NSD until further notice.

Wall Street Is Quietly Trading For The Return Of Russia, Sparking Liz Warren''s Outrage For holders of Russian equities, the past week has been nothing short of a surreal, modern-day version of Dante''s 10th circle of hell, where in the span of just a few days virtually all Russian stocks have seen their value wiped out as a result of a barrage of western sanctions that have disconnected Russian equities from global capital markets and money flows, nowhere more visibly than in the stock of Russian Novatek PJSC, Russia''s second-largest natural gas producer and the world''s seventh-largest publicly traded company by natural gas production volume, which collapsed from $215 on Feb 16, to 65 cents a few days later. The carnage has been unprecedented, and not just at Novetek - the most widely-held Russian stock among ETFs and other international investors - but across the equity spectrum where adding insult to injury, investors have been blocked from selling their holdings as stocks plunged and fortunes were wiped out overnight.

The city council of Newark, New Jersey, has frozen the business licenses of Russian oil company franchises, including two Lukoil stations.

Russia’s second-largest oil company has broken ranks with President Vladimir Putin. Lukoil, which produces more than 2% of the world’s crude oil and employs over 100,000 people, has called for an end to Russia’s war in Ukraine. The company’s board of directors said in a statement to shareholders, staff and customers that it was “calling […]

Lawmakers in Newark, New Jersey, voted to suspend licenses of Lukoil gas stations after Russian forces invaded Ukraine. The Newark City Council, in an 8-0 vote on Wednesday approved suspending licenses of two Lukoil gas stations. Lukoil is one of the largest oil producers in Russia and reportedly has ties to Russian oligarchs. “This is a step […]