Moscow. 26 Oct. INTERFAX – the International rating Agency Moody’s Investors Service maintains a wide projected range of oil prices from $40 to $60 per barrel, Vice-President and chief credit expert in oil and gas sector Denis Perevezentsev during the 11th annual conference of the Agency.
“Russian companies will feel comfortable enough with this level of prices,” he said.
The agreement States, OPEC and non-OPEC made a significant contribution to the stabilization and growth of oil prices, but about restoring balance while early to speak, said the expert.
If the agreement will be extended (as long as it is valid till the end of March 2018), the volume of oil production of Russian companies in 2018 will be comparable to the current year. In General, the impact of this agreement on the credit profile of companies next year will be neutral with regard to the other factors.
Moody’s expects an increase in the debt burden for the major state-owned Russian oil and gas industry because of the significant capex and requirements of the authorities to pay 50% of net profit as dividends, the expert said. However, the state-owned company will maintain credit stability through the combination of tax policy, the dynamics of oil prices and the ruble exchange rate, according to the Agency.
On the question, will not deteriorate if the conditions of the agreement by Saudi Arabia after the IPO, Saudi Aramco, D. Perevedentsev noted that Moody’s does not expect such changes.