(Bloomberg) -- Russian oil stocks including OAO
Lukoil won't benefit from rising oil prices because the
companies' costs will increase as they are forced to extract oil
from newer fields, Citigroup Inc. said today.
The world's biggest financial-services company cut its price
estimates for six Russian oil companies, including Lukoil, the
country's second-largest oil producer, even as it raised its
projection for crude prices, according to a report by Citgroup
analysts James Neale and Alexander Korneev.
Read more at Bloomberg Stocks News
Lukoil won't benefit from rising oil prices because the
companies' costs will increase as they are forced to extract oil
from newer fields, Citigroup Inc. said today.
The world's biggest financial-services company cut its price
estimates for six Russian oil companies, including Lukoil, the
country's second-largest oil producer, even as it raised its
projection for crude prices, according to a report by Citgroup
analysts James Neale and Alexander Korneev.
Read more at Bloomberg Stocks News
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