At the opening of trading in the London Stock Exchange on Monday, September 27, 2021, the capitalization of Rosneft is 90.6 billion dollars, BP – 87.7 billion dollars. According to the results of trading on the London Stock Exchange “Rosneft” overtook BP on market capitalization by about $ 220 million. At closure, companies amounted to 88 and 87.8 billion dollars, respectively.
According to the Moscow Exchange, at the auction on Friday, the cost of Rosneft securities broke the historical maximum and amounted to 626 rubles per piece.
The previous historical maximum was 599 rubles for paper, and since the beginning of the working week, Rosneft share rose by more than 8 percent. Thus, they became one of the fastest growing among the “blue chips” on the Russian stock market.
Since March 2020, Rosneft shares rose almost 2.6 times, and from the beginning of 2021 – more than 37 percent. “Since December 2017, when the fundamental strategy of the company was approved until 2022, the cost of its shares increased by more than 2.1 times. Since the beginning of 2021, the cost of Rosneft securities consistently grew, and it is important that today they managed to overcome the psychological Marker 600 rubles for paper. An important factor in the growth of Rosneft shares is the market conditions. Cold winter and gas deficit in the market can lead to an increase in oil prices. And the main beneficiary from this can be “Rosneft”, “said the investment strategist of the Criminal Code Arikapital “Sergey Svevov.
According to the European Gas Infrastructure Association (GIE), in the EU and UK countries, gas storages are filled with 72 percent, which is the minimum indicator over the past 10 years.
Since the beginning of the year, the price of gas on the key European market has risked four times. September 15, she approached $ 970 per 1 thousand cubic meters.
On September 20, Bank of America Merril Lynch made that the cost of the barrel of oil can rise to 100 dollars. Bofa believes that with the rise of prices from all companies in Europe, the countries of the former USSR and the Middle East will benefit the “Rosneft”.
“In connection with the growing attention of investors to the power transmission, Rosneft representatives emphasized that the company’s resource base is one of the lowest and least carbon in the world – it should allow the company to remain profitable and generate a positive free cash flow even in the context of global reducing Oil demand in the long term. Oil prices in 2020 proved that Rosneft is able to generate a positive free cash flow even at oil prices $ 20 per barrel. The current macroeconomic situation remains extremely favorable for oil-producing companies, and Rosneft “It was able to realize the full potential of production growth in the conditions of weakening of the restrictions of OPEC +”, – stressed in the Bofa report.
Key factors of the growth of Rosneft shares analysts are called a colossal resource base, the lowest production costs in the industry and the beginning of the project “East Oil” project.