**Gazprom, Rosneft Shares Tumble, but the Energy Giants Are Putin’s Safety Net** **London-listed companies not only finance the Russian government, they have also assisted Putin’s foreign policy, Western officials say** **by Georgi Kanchev, The Wall Street Journal, Feb. 28, 2022**
**...** **Gas exporter Gazprom PJSC and oil company Rosneft PJSC fund a large chunk of the Russian state and are among the country’s largest employers. Neither have been targeted by major Western sanctions, a sign of their importance in the global energy markets.**
**Rosneft says it is Russia’s biggest taxpayer, contributing a fifth of budget revenues. Gazprom paid around 6% of budget revenues.**
**On Monday, London-listed shares of Gazprom fell 53% and Rosneft lost over 42%...**
**The European Union gets around 40% of its gas imports and more than one-quarter of its oil from Russia...As part of the Kremlin’s bid for deeper relations with China, Gazprom began delivering natural gas to China through the $55 billion Power of Siberia pipeline in 2019....** [end quote]
It’s amazing that two companies contribte such a huge proportion of Russia’s total budget revenues. Gazprom has a history of playing nasty political/ market games with Europe.
It’s really impossible to truly hurt Putin as long as Europe is buying huge amounts of energy. The winter is finally ending. I wonder if there will be any way to substitute for Russian energy over the next few months.
London-listed shares of Gazprom fell 53% and Rosneft lost over 42%…
Quick FYI, Gazprom trades in the US as an ADR under OGZPY.
Worth keeping an eye on as this situation evolves - though it has been a terrible investment option for at least the last decade. Down about 43% today as I write this.
“It’s really impossible to truly hurt Putin as long as Europe is buying huge amounts of energy. The winter is finally ending. I wonder if there will be any way to substitute for Russian energy over the next few months.
It’s really impossible to truly hurt Putin as long as Europe is buying huge amounts of energy. The winter is finally ending. I wonder if there will be any way to substitute for Russian energy over the next few months.”
no hope. A good percentage of German power comes from NG. For industrial heating, for power generation. Demand for NG will go down, but they still need it.
Stupidly they shut all their nukes. or last one will be shut down soon.
Oil can be gotten elsewhere. If it can be bought.
right now, Russia probably has payment problem. Financing cut off - no easy bank transfers to pay for energy. Russian tankers might be seized in some ports.
Germany might do alright in mid summer with their solar farms, but they are still not a peak power - still ‘short days’ compared to summer. Sun doesn’t shine at night, either. Nor does Germany have zillions of battery backup for the grid for all night.
It’s still cold in EU. Not winter, but still cold. Berlin Germany 26F low, high 44F.
"Quick FYI, Gazprom trades in the US as an ADR under OGZPY.
Worth keeping an eye on as this situation evolves - though it has been a terrible investment option for at least the last decade. Down about 43% today as I write this."
All the Oligarchs who own giant shares of this or are ‘executives’ raid the company of 90% of it’s profits. Or should I say ‘loot the company’ by the billions. If not the company itself, by favoritism in award ‘contracts’ at ridiculous rates by kickbacks.
the 20 or 30 Russian billionaires didn’t get there by creating an Amazon or Facebook or Nvidia. They got their loot by robbing the government companies blind.
Same for Rosneft.
You’ll never make money as a mere ‘stockholder’. You only get the dregs.
It’s really impossible to truly hurt Putin as long as Europe is buying huge amounts of energy. The winter is finally ending. I wonder if there will be any way to substitute for Russian energy over the next few months.
Russia and its energy companies have never seen this anti-Russian energy trading and investments. The Europeans are ready to turn off more Russian energy and investments as shown in the news. Yes it will raise energy prices in Europe, but the Europeans can afford it.
the 20 or 30 Russian billionaires didn’t get there by creating an Amazon or Facebook or Nvidia. They got their loot by robbing the government companies blind.
So, the Russians not only discovered “supply side economics”, they also discovered the private equity business model?