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You will pay more for gas because Drumpf wants to weaken the dollar to fatten Russian oil producers
Strong Dollar Crushing Russia's Gazprom
Just when you thought the oil markets couldn't make Gazprom any worse, a disappointing third quarter earnings report on Friday is likely to pull the rug out further for Russia's energy giant.
Gazprom is due to release its third quarter results tomorrow, January 15. And they are expected to be weak thanks to the slide in natural gas and crude oil price despite improved European gas export volumes annually. Gazprom's shares in the OTC market were marginally higher on Thursday, but on the Micex in Moscow, Gazprom settled 0.3% lower. It's down 3.8% this year and off by 7% in the last 12 months, held together primarily by a weak ruble.
VTB Capital is forecasting a $6.9 billion loss due to the stronger dollar, which leads to a net loss for the quarter. However, free cash flow is the most important figure to watch. A weak performance on this front could disappoint investors.
http://www.forbes.com/sites/kenrapoza/2016/01/14/strong-dollar-crushing-russias-gazprom/#529058054d11
Just when you thought the oil markets couldn't make Gazprom any worse, a disappointing third quarter earnings report on Friday is likely to pull the rug out further for Russia's energy giant.
Gazprom is due to release its third quarter results tomorrow, January 15. And they are expected to be weak thanks to the slide in natural gas and crude oil price despite improved European gas export volumes annually. Gazprom's shares in the OTC market were marginally higher on Thursday, but on the Micex in Moscow, Gazprom settled 0.3% lower. It's down 3.8% this year and off by 7% in the last 12 months, held together primarily by a weak ruble.
VTB Capital is forecasting a $6.9 billion loss due to the stronger dollar, which leads to a net loss for the quarter. However, free cash flow is the most important figure to watch. A weak performance on this front could disappoint investors.
http://www.forbes.com/sites/kenrapoza/2016/01/14/strong-dollar-crushing-russias-gazprom/#529058054d11
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