Gazprom has already rallied 35% off the lows (in Emerging Markets you make the most money when things go from “terrible to bad”) and can’t seem to find any love off the China gas deal.
Look at the MICEX chart and you can see that we are now back to pre-crisis levels on the MICEX.
Oh really? Pretty amazing that Putin made these comments this morning after Russia has flexed its muscles throughout this conflict effectively bullying, scaring, creating havoc.
Taking a look at Gazprom (OGZPY, quote) versus Petrobras (PBR, quote). If 5 years ago you asked most investors globally which companies had the best chance to become the world’s first company to hit a $1 trillion market cap, Gazprom and Petrobras would have been in the top 3 or 4 names being bandied about.