Second largest producer of crude oil in Russia.
Do you think it’s a good investment given the turn to renewables?
I can see the short-term appeal.
“From January through September 2019, LUKOIL’s financial performance indicator (EBITDA) grew by 15 percent, the interim dividends that the shareholders approved on December 3 are almost twofold more than last year,” the head of the company added.
As an owner of an electric vehicle since 2012, I’m definitely all in for renewables, however our reliance on oil won’t disappear overnight (oil is still used for a large number of things beyond fuel) and this looks like a great company to be able to invest in.
Oil/gas are still important. But there are so many companies, why go for one that is fully controlled by an autocratic government and where you don’t have any investor rights (in fact no investor has).
With everything that’s going on in Iran I fully expect Russian oil companies to do pretty well this year.
“(…) increasing importance of Russian natural gas that flows to the Chinese market via the newly opened Power of Siberia pipeline. The plot thickens even more when one considers military exercises Russia, China, and Iran have just concluded in the Gulf of Oman.”
So, China, Russia and Iran held joint naval drills in Gulf of Oman.
I agree. People forget about motorbikes, planes and boats. We will need oil for those vehicles plus electric vehicles are still more expensive than the average petrol car.