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News // Markets & Stocks

Lukoil overtook state-owned Gazprom and Rosneft in terms of capitalisation

29 March 2018 , 16:07Neftegaz.RU684

Moscow, 29 March - Neftegaz.RU. Russia's biggest privately-owned company Lukoil is now worth more than state giants Gazprom and Rosneft.

 

Shares of Russian oil company Lukoil has overtaken the paper of Gazprom capitalisation and took the 2nd place after Sberbank. The 1st place for capitalization is Sberbank - RUB  5,711 trillion.

 

At the start of trading in Moscow on Wednesday, Lukoil’s shares traded at $67.74 (RUB 3,900), the capitalization of the company reached RUB 3,317 trillion, narrowly beating Rosneft’s RUB 3.27 trillion and lining up behind gas giant Gazprom’s RUB 3.325 trillion.

 

Lukoil's new strategy, presented at an Investor’s Day in London on March 23, 2018, has been met positively by analysts and investors.

 

In its development strategy, Lukoil announced that it would target a dividend policy of continuous growth and «balanced distribution of additional free cash flow to shareholders.» Lukoil promised to send payouts to shareholders half of additional income with the price of oil above $50 a barrel.

 

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