BPAQF - Lukoil Stock Is Cheap Given Fundamentals Thanks To Ukraine Crisis

• The perception that war in Ukraine is imminent and it will be followed by harsh anti-Russia economic sanctions depressed Lukoil's stock value, making it a rare cheap investment opportunity.
• Oil prices are likely to persist higher, making it very likely that Lukoil will see a significant pop in its stock value once the crisis eases.
• While Lukoil will continue to face the geopolitical uncertainty discount, Western oil majors are faced with the ESG discount, which may be more harmful in the long run.
• Low debt, a strong upstream reserves portfolio, decent profitability prospects make Lukoil a good long-term bet, with geopolitical volatility such as what we are now witnessing, presenting investors with a good entry point.

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