Surgutneftegas Public Joint Stock Co Stock News

Russia Allows Chinese Banks To Buy Oil Without Letters Of Credit To Bypass Western Sanctions One week ago, Shell quietly purchased Russian seaborne crude (at a record discount of $28.50) amid a self-imposed boycott by most other Western purchasers of Russian energy products, only to spark widespread populist outrage over its indirect funding of the Putin regime and prompting a vow from the largest European energy company to not purchase Russian crude any more. As a result, Moscow has found itself in the crippling position where despite carve outs for its oil exports (Europe has vocally refused to join the US ban of Russian energy exports), not a single western major is willing to buy Russian oil over fears of public backlash, while Chinese banks are reportedly on the fence when it comes to providing letters of credit to shippers seeking to purchase Russian oil, in the process freezing Russia''s entire seaborne oil exporting industry. So fast forward to today, when in hopes of short circuiting the Chinese quasi-ban, Russian oil giant Surgutneftegaz (Surgut) has allowed Chinese buyers to receive oil without providing guarantees known as letters of credit (LC) in order to bypass Western sanctions, Reuters reported citing three people with knowledge of the matter said.

By Florence Tan SINGAPORE (Reuters) -Russian producer Surgutneftegaz has allowed Chinese buyers to receive oil without providing guarantees known as letters of credit (LC) in order to bypass Western sanctions, three people with knowledge of the matter said.

Russian producer Surgutneftegaz has allowed Chinese buyers to receive oil without providing guarantees known as letters of credit (LC) in order to bypass Western sanctions, three people with knowledge of the matter said.

NEW YORK : Oil surged relentlessly beyond US$110 (RM460) a barrel yesterday, extending its rally since Russia invaded Ukraine seven days ago, on expectations that the market will remain short of supply for months to come following sanctions on Moscow and a flood of divestment from Russian oil assets by major companies. The market rallied into the close of trading on heavy volume, with global benchmark Brent crude ending the day at its highest close since June 2014, while US crude''s settlement was its highest since May 2011. The oil rally has been dramatic, with Brent gaining over 15% this week alone as the West responded to Moscow''s invasion with numerous sanctions, which have targeted financial transactions and banks, designed to hammer Russia''s economy. While the energy sector was not specifically targeted, the sanctions have hampered exporting capabilities from Russia, whose oil exports account for about 8% of global supply, or 4 million to 5 million barrels per day, more than any nation other than Saudi Arabia. “It increasingly looks like the market is pricing in a supply disruption to at least part of the nearly 4 million barrels per day of oil that is sold into the US and EU,” said Andrew Lipow, president of Lipow Oil Associates in Houston.

The Russian oil and gas giants listed on the London Stock Exchange have seen their shares crashing after Putin invaded Ukraine last week. Since last Thursday, when Russia invaded Ukraine, shares in Rosneft, Gazprom, Lukoil, and Surgutneftegas collapsed on the London market, losing as much as $190 billion of their combined market capitalization, or 95 percent, according to estimates from Saxo Group and Bloomberg shared by Saxo Bank’s Head of Commodity Strategy Ole Hansen. The companies could have seen their market cap crashing in Moscow, too,…

70% Of Russian Crude Trade Is Frozen As Surgut Again Fails To Sell Any Urals In Big Tenders As discussed yesterday in " Buyers Balk At Russian Oil Purchases Despite Record Discounts, Sanction Carve Outs " the bevy of Russian sanctions have had the unintended consequence of also freezing Russian oil exports - despite explicit carve outs in terms set by Western nations - as buyers balk and boycott Russian crude sales amid fears that the country''s energy supplies may eventually fall under a sanctions regime anyway leaving buyers stuck with millions in barrels they can''t then sell to downstream clients. Today was a clear example of just that: citing traders with knowledge of tenders, Bloomberg reported that Surgutneftegaz (better known as Surgut) failed to award two tenders with combined volume of 880k tons of Urals for March loading. This was the third time that Surgut failed to sell any of the crude it was offering, "highlighting the difficulty for Russian producers to find buyers after the nation’s invasion into Ukraine." In a separate, smaller tender, Surgut was offering 8 cargoes of 100k tons each from Baltic ports, and another 80k tons cargo from Black Sea in a separate tender.

SINGAPORE (Reuters) – Spot premiums for Russian ESPO Blend crude jumped to their highest in more than two years after producer Surgutneftegaz sold three cargoes via a tender, trade sources said on Wednesday.

64 January 10%+ Yield Dividend Dogs, And Not One Is Overpriced

President Biden and his team are looking to tackle the issue of high energy prices by increasing supply, a boon for oil refining stocks. The post 5 Oil Refining Stocks on Watch Amid Biden's Petroleum

Key Companies Profiled in Russia Oilfield Services Market are Rosneft-Burenie, Surgutneftegas, Gazprom Bureniye LLC, NaftaGaz JSC, Wagenborg Oilfield Services, Burintekh, Ltd, INTEGRA, AKROS Oilfield Services Company, ZAO Arktikshelfneftegaz, ZAO Transarm, OAO Uralmashzavod, HMS Group, Weatherford, LLC SGK-Burenie, OOO BKE (Russia), JSC Investgeoservis, KCA Deutag, Eriell, Tatburneft (Russia), Nabors Industries Ltd Key Companies Profiled in Russia Oilfield Services Market are Rosneft-Burenie, Surgutneftegas, Gazprom Bureniye LLC, NaftaGaz JSC, Wagenborg Oilfield Services, Burintekh, Ltd, INTEGRA, AKROS Oilfield Services Company, ZAO Arktikshelfneftegaz, ZAO Transarm, OAO Uralmashzavod, HMS Group, Weatherford, LLC SGK-Burenie, OOO BKE (Russia), JSC Investgeoservis, KCA Deutag, Eriell, Tatburneft (Russia), Nabors Industries Ltd

These dividend dog 10%+Yield@$5-$83 data are all sourced from YCharts. Many were discarded for unsustainable-dividends above 25%; others were deleted for infrequent-dividends. Not all have paid consis

Surgutneftegas Has Reached The Target Price, Here's What's Next

December 31st is one of the most important days for Surgutneftegas investors. On that day, the final size of the company's cash pile will be defined and used as a base for paying dividends next summer