Identification of Factors Affecting the Value of Shares of an Oil and Gas Company Using the Example of PAO Gazprom

The study aims to identify the relationship between the failure of the OPEC + transaction in March 2020 and the value of the shares of one of the largest oil and gas companies, PJSC Gazprom. The value of shares of an oil and gas company is significantly affected by: the price of oil and gas, the exchange rate, GDP, as well as indicators of investment attractiveness of shares and company efficiency. Since the Russian stock market directly depends on the oil and gas industry, it is extremely important how the failure of the OPEC + transaction affected the leading company. This event became a factor that influenced the value of Gazprom shares. This was revealed using fundamental event analysis. Comparison with another company in the industry, PJSC Novatek, suggests that PJSC Gazprom is actually a reliable investment company. Despite the jumps in the market, the investment attractiveness of the company did not become negative. The study is important for both: individual entrepreneurs working on the exchange, and for large public companies putting up their shares for sale. Moreover, the study may be useful for further work on this topic.