Move Over Exxon, Russian Drillers Are Oil World's Top Performers
- Falling taxes and lower costs help to boost Russian companies
- Producers have stronger free cash flow and profit margins
Oil Pumping Site
Akos Stiller/BloombergThis article is for subscribers only.
At a time when the collapse in crude prices pushes Russia’s economy into a recession, the nation’s oil producers are managing to beat their western counterparts.
On measures including cash flow, profit margins and share prices, OAO Rosneft, Lukoil PJSC-- Russia’s two largest oil producers -- and OAO Gazprom Neft are performing better than Royal Dutch Shell Plc, BP Plc or Exxon Mobil Corp.