The most closed Russian oil company asks its customers to pay for oil in euros. Thus, it is preparing for future US sanctions.
By 2024, due to the fall in oil production by 17%, the country's budget losses may amount to 1.5 trillion rubles.
The airline has overtaken the Renova Group of oligarch Victor Vekselberg and Novaport Roman Trotsenko.
In the first half of the year, the company's profit from exchange rate differences amounted to 225.2 billion rubles.
Russian oil companies are making super profits from rising oil prices. This promises an increase in dividend yield to the owners of their shares.
The oil company is trying to find a buyer for its insurance business for almost two years.
Oil production returned to the level of October 2016 and approached 11.2 million barrels per day.
Surgutneftegas OJSC, Russia’s fourth-largest oil producer, is consolidating its position as the country’s richest company by amassing $44 billion in cash and bank deposits even as risks of further U.S. sanctions mount.
The company may face a fine of more than 90 billion rubles.
So far, the sanctions have not affected the business of Russian public companies.
The US imposed sanctions against seven Russian businessmen on the Forbes list. All assets of their assets in the US are frozen. Citizens of the United States are forbidden to enter into any business relations with them.
The new list includes 26 people and 15 companies. Among them are Oleg Deripaska, Viktor Vekselberg, Suleiman Kerimov, Alexey Miller and Andrei Kostin.
In 2017, the company produced more oil than Surgutneftegaz.
The company strengthened sanctions against the Russian oil and gas sector, which was not ready for import substitution in the field of software.
The reason is new environmental standards, which come into force on January 1.