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[smjjames]

Well, it IS the internet and sarcasm doesn't get translated very well over the internet.

[miljan]

http://www.rferl.org/content/rosneft-profits-crash-sanctions-ukraine/26664883.html

Russian state-controlled energy giant Rosneft says its profits during the third quarter of 2014 crashed dramatically after Western sanctions were imposed over Russia’s role in the Ukraine crisis.

Rosneft said on October 29 that its third-quarter net profits fell by 99.3 percent – down to $24.4 million -- compared to the same three-month period in 2013.

Rosneft’s access to Western financing and technology – needed to service its debts and bring east Siberian fields online – has been cut by the sanctions.

Rosneft also has been hurt by the falling value of Russia’s ruble currency.

Russia’s Economic Development Minister Aleksei Ulyukayev said on October 29 that the government cannot satisfy a request from Rosneft for a further bailout to help it service debts.

In August, Rosneft asked the Russian government for a huge financial bailout to help it repay debts of about $45 billion.

... I think Rosneft is going bankrupt if the government doesn't provide them the cash they need. Thanks Putin!

Nahh, dont think so

http://www.telegraph.co.uk/sponsored/rbth/business/11145393/sanctions-rosneft-stake-oil-company.html

Also thanks to putin  :

http://www.mycity-military.com/slika.php?slika=178251_48779238_image.jpg

[Mictlantecuhtli]

Lol. Good, they bought shares of a company that isn't state owned and highly leveraged to useless contracts. I also own shares of NADL. It doesn't mean Rosneft isn't still begging for 45 billion in emergency funds to pay for their debt. It might actually tell you something that the only good news from them is they have shares of a Norwegian driller.

[miljan]

Lol. Good, they bought shares of a company that isn't state owned and highly leveraged to useless contracts. I also own shares of NADL. It doesn't mean Rosneft isn't still begging for 45 billion in emergency funds to pay for their debt. It might actually tell you something that the only good news from them is they have shares of a Norwegian driller.

No, the other good news is, that they are not getting that money that they ask for, because they want to abuse the situation. Thats why they are not getting those 45 bilion.

[Mictlantecuhtli]

The company has about 1.2 trillion *rubles* in liabilities. They are going bankrupt without the cash infusion, as they have taken on large amounts of Chinese-owned debt that they thought they could refinance their way out of. I highly doubt the Kremlin will allow that.

[miljan]

The company has about 1.2 trillion in liabilities. They are going bankrupt without the cash infusion. I highly doubt the Kremlin will allow that.

Yes. And USA has 172 trillion in liabilities. They must also bankrupt soon without cash infusion. 

[Mictlantecuhtli]

Lol.

[smjjames]

The company has about 1.2 trillion in liabilities. They are going bankrupt without the cash infusion. I highly doubt the Kremlin will allow that.

Sounds like the same kind of thing as the 'too big to fail' companies here in the US and the bailouts that they got.

[Mictlantecuhtli]

It'd also be a rather big PR failure for the Kremlin.

Of course, Rosneft's leadership was ringing this alarm bell the whole time when they realized they can't refinance from western banks.

[Sergarr]

It'd also be a rather big PR failure for the Kremlin.

Of course, Rosneft's leadership was ringing this alarm bell the whole time.

>implying Kremlin has any PR to lose after annexing Crimea

That's a good one.

[Ukrainian Ranger]

Also thanks to putin  :

http://www.mycity-military.com/slika.php?slika=178251_48779238_image.jpg

As Russian proverb says - Chickens are counted in autumn.
Hitler was a very successful leader before 1940s

We will see if Russian economic rise happened because of Putin or very high oil prices.

[miljan]

Also thanks to putin  :

http://www.mycity-military.com/slika.php?slika=178251_48779238_image.jpg

As Russian proverb says - Chickens are counted in autumn.
Hitler was a very successful leader before 1940s

We will see if Russian economic rise happened because of Putin or very high oil prices.

If putin didnt kicked out those oligarchs that where in control of oil industry 9and made it back to russia control) , oil rise would not help at all that much in the first place

[Sheb]

Sergarr, a Rosneft bankrupty would be terrible for the internal audience.

Miljan: You're deliberately using a very low starting point. It's like praising Obama because things aren't as bad as in 2008.

[smjjames]

Would the kremlin even afford bailing it out?

How does a company get a trillion in liabilities and not suffer greatly long before? besides corruption. Though not sure how much that is in US dollars

[Ukrainian Ranger]

1.2 trillion is something like 25 billions in dollars