Fitch: Russian oil firms to cut invest 10Ц20% amid low oil prices - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Fitch: Russian oil firms to cut invest 10Ц20% amid low oil prices

нефтепроводMOSCOW, Mar 25 (PRIME) -- Russian oil companies will have to reduce investments by 10Ц20% amid the current extremely low oil prices, Dmitry Marinchenko, senior director for natural resources and commodity goods group at international rating agency Fitch, said on Wednesday.

УRussian companies are better protected from the risk of falling oil prices due to the peculiarities of taxation, a flexible ruble exchange rate and relatively low costs, but with ultra-low oil prices, as they are today, they will also have to revise capital investment programs,Ф Marinchenko said.

The ruble price of oil fell 1,600 rubles per barrel currently from 4,100 rubles per barrel in 2019, or by 60%, he said.

УMost likely, Russian companies will have to reduce capital investment programs by at least 10Ц20% this year in order to balance cash flows if prices remain low,Ф the expert said.

(78.8493 rubles Ц U.S. $1)


25.03.2020 19:54
Share |
To report an error select text and press Ctrl+Enter
Central Bank Official Rate
1W 1M 1Y
EUR 85.7389 -0.2259 28 mar
USD 77.7325 -0.9898 28 mar
Stock Market Indices
1D 1W 1M 1Y
rtsi 1049.88 +1.53 18:50 03 apr
micex 2572.23 +1.03 18:50 03 apr
Stock Quotes in RUR
1D 1W 1M 1Y
gazp 189.77 +1.46 18:49 03 apr
lkoh 5204.50 +3.06 18:49 03 apr
rosn 345.00 +1.32 18:49 03 apr
sber 185.64 -0.70 18:49 03 apr
MICEX Ruble Trading
1D 1W 1M 1Y
EURTD 82.7875 -3.0925 14:59 03 apr
USDTD 77.7000 -1.2800 17:44 03 apr