Goldman Sachs Group Geydar Mamedov and Alexander Kornilov

current valuations: Alfa Bank Alexander Kornilov upgraded the oil sector to a buy last week, while Goldman Sachs Group Geydar Mamedov said earlier in August that current valuations offer an attractive entry point, according to Business Week. A weaker rouble is the key factor helping Russian oils to offset the drag of lower oil prices and this gives Russian oil companies a serious advantage against their global peers, says Kornilov. For one thing, the depreciating rouble gives Russian oil producers a cushion against plunging commodity prices because it cuts costs and taxes for companies that earn in dollars but pay most of their expenses in domestic currency. He recommending Rosneft and the preferred shares of Surgutneftegas. Commodity Rout Prices for Brent crude, the benchmark grade for more than half the world oil, have dropped more than 50 per cent since last year high of $115 per barrel. Lukoil remains his top choice. (news.financializer.com). As reported in the news.