Gazprom Neft is a vertically integrated oil company engaged primarily in oil and gas exploration, production, and refining, as well as the production and sale of petroleum products. The Company’s strategy focuses on growing the scale of the business by expanding the resource base, enhancing oil production, and upgrading refining facilities.
In 2013, output of hydrocarbons at Gazprom Neft was 62.26 million tonnes of oil equivalent (toe), up 4.3% on the previous year. The Company’s 2013 results made it an oil industry leader in terms of output growth. At the start of 2013 the Company held resource rights to 70 licensing areas in eight regions of Russia, and was also involved in joint projects working at oil fields abroad in Iraq, Venezuela, Serbia, Angola, Bosnia & Herzegovina, Romania and Hungary.
Gazprom Neft refines around 80% of the oil it produces. The company’s largest plant, the Omsk refinery, is Russia’s leader in depth of refining, as well as being one of the country’s most modern refineries and one of the largest in the world. The Company’s other assets include the Moscow refinery, the Yaroslavl refinery (YANOS belongs to Slavneft , where Gazprom Neft owns a 50% stake) and a refining complex belonging to the Serbian company NIS comprising two refineries located at Pančevo and Novi Sad. In 2013 Gazprom Neft refined 42.63 million tonnes of oil. All of the Company’s plants have switched to producing fuel that meets the Euro 4 and Euro 5 standards.
The retail network comprises 1,747 filling stations located in Russia, the CIS and Europe.
Gazprom Neft is one of the industry’s leaders in business performance. The Company’s revenue in 2013 increased by 2.8% to RUB 1.27 trillion, EBITDA was up 4.2% and net profit rose 0.9% to RUB 177.9 billion. On 2013 figures, the Company has the highest operating cash flow per barrel of oil equivalent, highest net profit per barrel of oil equivalent and highest return on invested capital.