Kurt Wulff ( McDep Associates ) submits: Buy-recommended Lukoil (LUKOY.PK), with estimated net present value [NPV] of $170 a share, offers portfolio representation mainly in crude oil production and non-U.S. domicile at a low McDep Ratio along with political risk. Second quarter results reported Friday illustrated the effects of Russian government tax policy to encourage domestic refining of crude oil. Refining and downstream (Other) account for half of strong cash flow and earnings that exceeded our expectations from three months ago. Production profits also increased despite a 4% decline in crude oil volume from the previous year. Complete Story » ...
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Kurt Wulff ( McDep Associates ) submits: Buy-recommended Lukoil (LUKOY.PK), with estimated net present value [NPV] of $170 a share, offers portfolio representation mainly in crude oil production and non-U.S. domicile at a low McDep Ratio along with political risk. Second quarter results reported Friday illustrated the effects of Russian government tax policy to encourage domestic refining of crude oil. Refining and downstream (Other) account for half of strong cash flow and earnings that exceeded our expectations from three months ago. Production profits also increased despite a 4% decline in crude oil volume from the previous year. Complete Story » ...